The US Department of Commerce has put its macroeconomic data onchain in partnership with Chainlink, according to a public statement.
The information from the Bureau of Economic Analysis (BEA) will include Gross Domestic Product (GDP), Personal Consumption Expenditures (CPE) Price Index, and Real Final Sales to Private Domestic Purchasers.
The data feeds are viewable here. (under newly launched)
Sergey Nazarov, co-founder of Chainlink, commented on the partnership:
“I’m very excited to see Secretary Howard Lutnick and the U.S. Department of Commerce accelerate blockchain adoption by bringing the Bureau of Economic Analysis’ macroeconomic data onchain through the Chainlink standard. This decision to use blockchains for data transparency from the US Government is clear proof of its commitment to being the global leader in blockchain technology adoption. Bringing this high-quality government data to blockchains through Chainlink catalyzes a wave of new onchain financial instruments, all built on this new foundation of cryptographic truth. I look forward to continuing to work with Secretary Lutnick and the U.S. Department of Commerce to help make the United States the crypto capital of the world.”
The news of the onchain economic data follows criticism emanating from the Trump Administration in regard to an economic report the White House deemed to be incorrect.
Chainlink states:
“Bringing U.S. government data onchain unlocks innovative use cases for blockchain markets, such as automated trading strategies, increased composability of tokenized assets, the issuance of new types of digital assets, inflation-linked products, perpetual futures markets, real-time prediction markets for crowdsourced intelligence, transparent dashboards powered by immutable data, and DeFi protocol risk management based on macroeconomic factors.”
The following blockchains will initially be utilized:
- Arbitrum,
- Avalanche,
- Base,
- otanix,
- Ethereum,
- Linea,
- Mantle,
- Optimism,
- Sonic,
- ZKsync
Chainlink notes that it started working with the Feds earlier this year, including several meetings with the SEC and a meeting with Senator Tim Scott, Chairman of the Senate Banking Committee.
Chainlink co-founder Nazarov was present when President Donald Trump signed the GENIUS Act, stablecoin legislation, into law.
Chainlink stated that if you would like to integrate U.S. government macroeconomic data, you should contact them directly.