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 expertise as a government-wide information distribution instrument, Lutnick advised 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 folks can use the blockchain for information distribution.”
Lutnick stated the Commerce Division plans to make blockchain-based statistics “obtainable for the whole authorities” whereas working via implementation particulars.
The announcement represents probably the most distinguished 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 companies.
Treasury examined a grant distribution system utilizing blockchain to trace drawdowns with computerized 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 identical time, the Small Enterprise Administration has evaluated blockchain for monitoring fraud and efficiency metrics in mortgage packages, based on 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 decreasing handbook information entry in protection provide chains.
Customs and Border Safety beforehand ran blockchain trials to confirm mental property information on imports and spot counterfeit items.
Congressional assist
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 functions.
The laws would set up a Commerce Division Blockchain Deployment Program and create advisory committees that embrace federal companies, non-public sector representatives, and blockchain infrastructure operators.
This system would look at how federal companies can profit from distributed ledger expertise whereas addressing issues associated to cybersecurity and regulatory compliance.
The Commerce Division’s GDP blockchain initiative represents the newest federal dedication to distributed ledger expertise for core authorities capabilities.
