Commerce Secretary Lutnick announces plans to issue US GDP statistics on blockchain
Commerce Secretary Howard Lutnick introduced the Division of Commerce will start issuing GDP and different financial statistics on blockchain throughout a White House cabinet meeting on Aug. 26.
Positioning the expertise as a government-wide knowledge distribution software, Lutnick advised President Donald Trump:
“The Division of Commerce goes to begin issuing its statistics on the blockchain, trigger you [Trump] are the crypto president, and we’re going to put the GDP on the blockchain so folks can use the blockchain for knowledge distribution.”
Lutnick stated the Commerce Division plans to make blockchain-based statistics “accessible for all the authorities” whereas working via implementation particulars.
The announcement represents probably the most distinguished federal blockchain deployment below the Trump administration’s crypto-friendly insurance policies.
Current federal packages
The Commerce initiative builds on current blockchain pilots across federal agencies.
Treasury examined a grant distribution system utilizing blockchain to trace drawdowns with computerized reconciliation and audit trails, although it by no means launched publicly.
The Commodity Futures Buying and selling Fee operates a pilot program evaluating tokenized collateral and stablecoin-based monetary transactions in regulated markets.
On the identical time, the Small Enterprise Administration has evaluated blockchain for monitoring fraud and efficiency metrics in mortgage packages, in keeping with Authorities Accountability Workplace experiences.
The Division of Protection and Homeland Safety are exploring using blockchain for components monitoring, provide chain authentication, and digital documentation.
The Navy and the Protection Logistics Company collaborate with SIMBA Chain to trace high-value components via blockchain ledgers, thereby decreasing guide knowledge entry in protection provide chains.
Customs and Border Safety beforehand ran blockchain trials to confirm mental property knowledge on imports and spot counterfeit items.
Congressional help
The blockchain push aligns with pending congressional laws. The “Deploying American Blockchains Act of 2025,” sponsored by Rep. Kat Cammack and handed by the Home on June 23, moved to the Senate on June 24.
The invoice directs the Secretary of Commerce to advertise US competitiveness in blockchain deployment and purposes.
The laws would set up a Commerce Division Blockchain Deployment Program and create advisory committees that embody federal companies, non-public sector representatives, and blockchain infrastructure operators.
This system would study how federal companies can profit from distributed ledger expertise whereas addressing issues associated to cybersecurity and regulatory compliance.
The Commerce Division’s GDP blockchain initiative represents the most recent federal dedication to distributed ledger expertise for core authorities features.
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