Commerce Secretary Howard Lutnick introduced the Division of Commerce will start issuing GDP and different financial statistics on blockchain throughout a White Home cupboard assembly on Aug. 26.
Positioning the know-how as a government-wide knowledge distribution instrument, Lutnick informed President Donald Trump:
“The Division of Commerce goes to start out 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 individuals can use the blockchain for knowledge distribution.”
Lutnick mentioned the Commerce Division plans to make blockchain-based statistics “out there for all the authorities” whereas working via implementation particulars.
The announcement represents probably the most outstanding federal blockchain deployment beneath the Trump administration’s crypto-friendly insurance policies.
Present federal packages
The Commerce initiative builds on current blockchain pilots throughout federal businesses.
Treasury examined a grant distribution system utilizing blockchain to trace drawdowns with automated 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 similar time, the Small Enterprise Administration has evaluated blockchain for monitoring fraud and efficiency metrics in mortgage packages, in response to Authorities Accountability Workplace reviews.
The Division of Protection and Homeland Safety are exploring the usage of blockchain for elements monitoring, provide chain authentication, and digital documentation.
The Navy and the Protection Logistics Company collaborate with SIMBA Chain to trace high-value elements via blockchain ledgers, thereby lowering 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 embrace federal businesses, non-public sector representatives, and blockchain infrastructure operators.
This system would study how federal businesses can profit from distributed ledger know-how whereas addressing considerations associated to cybersecurity and regulatory compliance.
The Commerce Division’s GDP blockchain initiative represents the most recent federal dedication to distributed ledger know-how for core authorities features.
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