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 knowledge distribution instrument, Lutnick informed President Donald Trump:
“The Division of Commerce goes to begin 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 knowledge distribution.”
Lutnick stated the Commerce Division plans to make blockchain-based statistics “out there for the whole authorities” whereas working by way of implementation particulars.
The announcement represents probably the most distinguished federal blockchain deployment beneath the Trump administration’s crypto-friendly insurance policies.
Current federal applications
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 applications, in response to Authorities Accountability Workplace stories.
The Division of Protection and Homeland Safety are exploring using blockchain for components monitoring, provide chain authentication, and digital documentation.
The Navy and the Protection Logistics Company collaborate with SIMBA Chain to trace high-value components by way of 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 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 embody federal companies, personal sector representatives, and blockchain infrastructure operators.
This system would look at how federal companies can profit from distributed ledger expertise 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 expertise for core authorities features.
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