The US government has engaged Chainlink and Pyth, two blockchain oracle providers, to publish economic data on-chain.
Pyth has been chosen by the Department of Commerce to publish gross domestic product (GDP) data—the total economic output for a year—according to an announcement released on Thursday.
Chainlink was selected to deliver data feeds from the Bureau of Economic Analysis (BEA).
These feeds encompass real gross domestic product (GDP), the personal consumption expenditures (PCE) price index, and real final sales to private domestic purchasers, the company stated.
Publishing government data on-chain aligns with the Trump administration’s initiative to enhance the transparency of government spending to boost accountability.
Related: Philippine lawmaker to suggest placing government budget on blockchain
This is a developing story, and more information will be provided as it becomes available.
