U.S. Government Publishes Economic Data Onchain Using Chainlink, Pyth

U.S. Government Publishes Economic Data Onchain Using Chainlink, Pyth
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U.S. Government Publishes Economic Data Onchain Using Chainlink, Pyth
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- U.S. Government taps Chainlink and Pyth Network to deliver economic data onchain. - Initiative aims to boost transparency and accountability in government spending. On August 28, 2025, Reuters reported that the U.S. government has partnered with blockchain oracle providers Chainlink and Pyth Network to publish key economic data on blockchain networks. This partnership aims to enhance transparency and accountability in government spending. It uses decentralized technology to improve the distribution of economic performance metrics. The Department of Commerce has chosen Pyth Network to release quarterly Gross Domestic Product (GDP) figures, including data spanning the past five years. Pyth Network plans to expand its offerings to include additional datasets. This move underscores the growing adoption of decentralized technologies in mainstream economic reporting. Simultaneously, Chainlink will facilitate onchain data feeds from the Bureau of Economic Analysis (BEA). These feeds will include crucial economic indicators such as real GDP, the Personal Consumption Expenditures (PCE) price index, and real final sales to private domestic purchasers. Chainlink will make the data available across ten blockchain networks, including Ethereum, Avalanche, and Arbitrum, through its robust oracle infrastructure. This initiative builds upon a transparency mandate introduced by the Trump administration, which sought to make government spending and economic data more accessible. By publishing these datasets on blockchain networks, public users, analysts, and stakeholders will gain real-time, verifiable access to a clearer picture of the nation’s economic performance. These advancements signal a promising step toward integrating blockchain technology with traditional governmental processes. They also reinforce the United States' commitment to embracing innovation for public accountability.
Article Info
Category
Market
Published
2025-08-28 16:14
NFT ID
PENDING
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