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