US Commerce Dept. to Put GDP Data on Blockchain
Secretary Lutnick proposes using blockchain for transparency and distribution of economic statistics, calling President Trump 'Crypto President'.
Commerce Secretary Aims to Put GDP on the Blockchain
The US Department of Commerce is exploring the use of blockchain technology to distribute economic data, including Gross Domestic Product (GDP) figures. This ambitious project was announced by Howard Lutnick, formerly CEO of Cantor Fitzgerald and now the Secretary of Commerce, during a cabinet meeting with President Donald Trump on August 26, 2025.
Lutnick stated his department's intention to begin publishing statistics on a blockchain, citing President Trump's perceived pro-crypto stance. The initiative aims to enhance transparency and accessibility of economic reports for both domestic and global markets.
"The Department of Commerce is going to start issuing its statistics on the blockchain, because you are the crypto president, and we are going to put out GDP on the blockchain so people can use the blockchain for data distribution," Lutnick said. He also mentioned ongoing efforts to finalize the details and ensure seamless data sharing across government departments.
Key Takeaways:
- The US Commerce Department is exploring blockchain for GDP data distribution.
- Secretary Lutnick highlighted improved transparency and accessibility as key benefits.
- The initiative leverages the pro-crypto sentiment within the administration.
- Rollout facilitated by White House crypto advisor David Sacks.
Lutnick also emphasized the importance of classifying Bitcoin as a commodity, echoing his past advocacy for cryptocurrencies. He stated in an interview with Bitcoin Magazine, “Once you embrace the concept of commodity, you’ll see how beautiful that is." He also mentioned that White House crypto and AI czar David Sacks helped to deliver the Bitcoin strategic reserve.
This announcement comes amidst other significant policy discussions, including concerns over potential crypto market crashes due to Federal Reserve rate cuts and explorations of new payment technologies.
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