US Commerce Department Collaborates with Chainlink for Economic Data on Blockchain
- The partnership will publish key US economic indicators via Chainlink Data Feeds.
- Data includes real gross domestic product (GDP), Personal Consumption Expenditures Price Index, and Real Final Sales to Private Domestic Purchasers.
- Updates will occur monthly or quarterly, depending on the Bureau of Economic Analysis (BEA) release schedule.
- Initially, data feeds will support ten blockchain networks including Ethereum and Arbitrum.
- Commerce Secretary Howard Lutnick emphasized the initiative’s role in making economic data globally accessible.
This collaboration aims to enhance access to official economic statistics for blockchain applications, enabling the development of products that utilize macroeconomic indicators directly from government sources.
The integration of real GDP and inflation data into blockchain networks marks a significant advancement in how economic information is disseminated and utilized in decentralized finance applications. (Source)
