Two blockchain companies, Chainlink
Chainlink will deliver data from the Bureau of Economic Analysis (BEA), including figures like real gross domestic product (GDP), the personal consumption expenditures (PCE) price index, and Real Final Sales to Private Domestic Purchasers.
These data feeds may expand over time, depending on user demand or government decisions. Meanwhile, Pyth will also provide GDP statistics, following an announcement from the Department of Commerce.
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The decision to publish these numbers directly on-chain supports a plan from the Trump administration. It aims to provide the public and markets with easier access to federal economic data.
Putting government data on-chain could improve the tools and strategies used in crypto markets. Traders will be able to design automated systems that respond to official numbers.
In decentralized finance (DeFi), platforms can use verified economic data to manage lending conditions or adjust interest rates.
A wide range of digital financial products could also benefit. Stablecoins can use this data to maintain price stability. Tokenized government debt, perpetual futures, and real-world assets (RWAs) might also rely on these numbers to adjust their values or yields more accurately.
Recently, SBI Group announced a partnership with Chainlink. What is the purpose of this collaboration? Read the full story.
