In a move that would make even the most jaded bureaucrat raise an eyebrow, the U.S. Department of Commerce has decided to drag its economic data kicking and screaming into the 21st century. Yes, dear reader, the stuffy old guardians of GDP have enlisted the services of Chainlink and Pyth Network to plaster their precious figures all over the blockchain. How très moderne! 🌐
- Chainlink and Pyth Network, those darlings of the crypto set, have been anointed to bring verified U.S. economic data onchain. Quite the coup, wouldn’t you say? 🎩
- Chainlink, ever the overachiever, is publishing 6 key macroeconomic indicators from the Bureau of Economic Analysis-including the sacred Real GDP and the PCE Price Index-across ten major blockchain networks. Ten! The audacity! 🔢
- Pyth Network, not to be outdone, will start by publishing 5 years of quarterly U.S. GDP data onchain. Baby steps, darling, but we’ll allow it. 📈
The U.S. government, in a fit of what one can only assume is midlife crisis, has decided that key economic indicators belong on the blockchain. Led by the Department of Commerce, this initiative leans heavily on the infrastructure of Chainlink (LINK) and Pyth Network (PYTH). One can’t help but wonder if they’ve finally run out of filing cabinets. 🗄️
Chainlink: The New Economist’s Best Friend
Chainlink, with its enterprise-grade infrastructure (read: fancy tech), is now the go-to for publishing macroeconomic data from the Bureau of Economic Analysis onchain. How quaint! 📊
The data includes 6 major indicators, because why stop at one when you can have six? 🎉
- Real GDP (Level) – Because who doesn’t love a good level? 🏔️
- Real GDP (Percent Change, Annual Rate) – For the mathematically inclined. 📉
- PCE Price Index (Level) – Inflation, darling, inflation. 💸
- PCE Price Index (Percent Change, Annual Rate) – More inflation, but make it annual. 📈
- Real Final Sales to Private Domestic Purchasers (Level) – A mouthful, isn’t it? 🛍️
- Real Final Sales to Private Domestic Purchasers (Percent Change, Annual Rate) – Because repetition is the soul of wit. 🔁
These datasets will be updated monthly or quarterly and scattered across ten blockchain ecosystems like Ethereum, Arbitrum, and their lesser-known cousins. Developers, financial institutions, and DeFi protocols can now frolic in the fields of reliable economic data, creating inflation-linked products, tokenized assets, and other such nonsense. How delightful! 🎨
Pyth Network: GDP’s New Best Friend
Pyth Network, after a cozy chat with Secretary of Commerce Howard Lutnick (one can only imagine the tea and biscuits 🍵), has been tasked with bringing official GDP data onchain. They’ll start with five years’ worth of quarterly figures, because why rush perfection? ⏳
The data will be verifiably distributed across Pyth’s sprawling infrastructure, which spans over 100 blockchains and supports more than 600 decentralized applications. Over time, Pyth plans to expand its offerings, presumably when they’ve had enough of GDP. How ambitious! 🚀
Read More
- Cardano’s Chaotic Dance: Will ADA Finally Break Free? 🕺📉
- HYPE PREDICTION. HYPE cryptocurrency
- Crypto Thieves in Suits
- GBP EUR PREDICTION
- OMG! WLD Price Soaring to $4? Analysts Are Losing Their Minds 😱💸
- EUR IDR PREDICTION
- Oh No! World’s Biggest Pension Fund Takes a $61B Hit! 😱
- Hyperliquid: The DeFi Protocol That’s Making Ethereum and Solana Sweat!
- Metaplanet’s Crypto Coup: Bitcoin Tycoon Eyes Japanese Bank Takeover
- Coinbase’s Audacious New York Crypto Gambit—Four Oddballs Enter the Ring! 🎩🗽
2025-08-29 09:39