In brief
- Commerce Secretary Howard Lutnick announced his department will begin issuing economic data “on the blockchain,” framing the move as part of the Trump administration’s embrace of crypto.
- Lutnick did not clarify which blockchain would be used or how the system would benefit government operations.
- The initiative could extend beyond the Commerce Department, as Lutnick suggested it might be adopted across the entire U.S. government.
U.S. Commerce Secretary Howard Lutnick announced Tuesday that his department will begin issuing economic data “on the blockchain” in the Trump administration’s latest overture to the crypto industry.
“The Department of Commerce is going to start issuing its statistics on the blockchain, because you are the crypto president,” Lutnick told a nodding President Donald Trump during a cabinet meeting Tuesday afternoon.
Lutnick elaborated that his department plans to issue GDP data “on the blockchain so people can use the blockchain for data distribution.” He said the initiative will soon be made available to “the entire government.”
What does that mean exactly? Nobody really knows yet. It’s unclear, for example, which
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Author: Sander Lutz
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