Chainlink Partners With US Department Of Commerce To Bring Macroeconomic Data On-Chain
Chainlink and the US Division of Commerce (DOC) introduced their collaboration to ship key authorities macroeconomic knowledge on-chain, aiming to enhance transparency and unlock new use instances for blockchain markets.
Chainlink Brings Financial Knowledge On-Chain
On Thursday, the US Division of Commerce and decentralized oracle supplier Chainlink unveiled that that they had partnered to convey essential macroeconomic knowledge on-chain from the Bureau of Financial Evaluation (BEA).
The brand new Chainlink Knowledge Feeds intention to ship vital info round key US financial knowledge factors, together with Actual Gross Home Product (GDP), Private Consumption Expenditures (PCE) Value Index, and Actual Closing Gross sales to Personal Home Purchasers.
Knowledge on the extent and proportion change of Actual GDP, PCE Value Index, and Actual Closing Gross sales to Personal Home Purchasers at the moment are accessible on-chain for consumption. This knowledge will likely be up to date month-to-month or quarterly as relevant.
Moreover, the information will likely be accessible throughout ten blockchain ecosystems initially, together with Arbitrum, Avalanche, Base, Botanix, Ethereum, Linea, Mantle, Optimism, Sonic, and ZKsync.
The announcement highlighted that bringing the US authorities knowledge on-chain “unlocks revolutionary use instances for blockchain markets,” like automated buying and selling methods, elevated composability of tokenized belongings, the issuance of recent sorts of digital belongings, real-time prediction markets for crowdsourced intelligence, clear dashboards powered by immutable knowledge, and DeFi protocol danger administration primarily based on macroeconomic components.
“Because the industry-standard oracle platform, Chainlink helps one of many largest ecosystems in Web3, leveraging safe knowledge oracles to construct superior onchain functions—making this work a pure step ahead in increasing the scope of trusted knowledge accessible onchain,” Chainlink wrote.
Earlier this week, US Secretary of Commerce Howard Lutnick revealed that the DOC “goes to start out issuing its statistics on the blockchain,” including that the aim is to create a extra open and accessible framework for world markets.
Lutnick shared his plan to convey Gross Home Product (GDP) on-chain for enhanced transparency and knowledge distribution throughout US authorities departments. He additionally highlighted that the initiative aligned with President Trump’s imaginative and prescient to make America the “crypto capital of the world.”
Institutional Adoption Of Blockchain Expertise
This growth follows the latest push to combine blockchain know-how into federal establishments. As reported by Bitcoinist, the US Home of Representatives passed a invoice in June to ascertain a Blockchain Deployment Program, aiming to develop finest practices and discover the adoption of blockchain in a number of areas.
Launched in February by Republican Consultant Kat Cammack, HR 1664, also referred to as the Deploying American Blockchains Act of 2025, directs the US Secretary of Commerce to steer the nationwide efforts, requiring him to function the President’s principal advisor for the deployment, use, software, and competitiveness of blockchain and different DLT, and take the actions essential to assist the US management on this sector.
The invoice, co-sponsored by Democratic Consultant Darren Soto, establishes that the Secretary of Commerce should encourage and enhance coordination amongst Federal companies for the deployment of those applied sciences to supply federal assist.
It’s value noting that Chainlink Labs has additionally met with a number of key US authorities officers and regulators to supply coverage recommendations aimed toward accelerating the expansion of the blockchain {industry}.
Notably, their workforce had a number of conferences with the Securities and Trade Fee’s (SEC) employees to deal with core points on broker-dealer and switch company compliance utilizing public blockchain infrastructure.
Furthermore, Chainlink’s founder, Sergey Nazarov, just lately met with Tim Scott, the chairman of the Senate Banking Committee, to discuss the extremely anticipated market construction invoice and the way it may allow the speedy development of the blockchain {industry} within the US.
