Bitcoin News Today: U.S. Commerce Dept to Publish GDP Data on Blockchain for Enhanced Transparency

The U.S. Department of Commerce is set to publish its GDP data directly on a blockchain network, a move highlighted by Secretary of Commerce Howard Lutnick during a White House cabinet meeting on Tuesday [1]. Lutnick, who transitioned from leading Cantor Fitzgerald to a government role under President Donald Trump, emphasized that the initiative reflects the administration’s broader commitment to modernizing data distribution methods through digital innovation [2].

Lutnick stated that the decision to adopt blockchain technology for GDP reporting stems from a desire to enhance transparency and data integrity across government systems [3]. By leveraging a decentralized ledger, the administration aims to ensure that economic data is not only real-time accessible but also tamper-resistant, thereby fostering public trust in official statistics [4]. The data will be shared across federal departments, extending real-time economic insights to both government agencies and the general public [5].

The initiative is being developed in collaboration with David Sacks, the White House’s top adviser on crypto and artificial intelligence [6]. Sacks has played a key role in implementing crypto-related policies under the administration, including the earlier unveiling of a Bitcoin strategic reserve [7]. Lutnick credited Sacks with enabling the technical feasibility of the blockchain-based GDP distribution plan [8]. The initiative aligns with the administration’s broader pro-crypto agenda, which has included regulatory easing and strategic investments in digital assets [9].

Lutnick also addressed broader economic issues, including interest rates and the Federal Reserve’s policies. He argued that lowering interest rates could reduce costs for American taxpayers, with each 1% cut potentially saving $360 billion annually over time [10]. His remarks underscore the administration’s push for more cost-effective fiscal management.

Meanwhile, Lutnick’s son, Brandon Lutnick, is finalizing a $4 billion Bitcoin acquisition through a Cantor Fitzgerald-backed SPAC, Cantor Equity Partners 1 [11]. The deal involves the acquisition of over 30,000 Bitcoin from Blockstream Capital, with additional capital expected to bring total holdings beyond $4 billion [12]. This follows an earlier $3.6 billion crypto deal with Tether and SoftBank, reflecting Cantor’s strategy of expanding digital asset exposure in line with federal deregulatory efforts [13].

Together, these developments highlight the growing integration of blockchain and crypto technologies within U.S. economic and financial infrastructure. While the details of the blockchain platform to be used remain unspecified, the administration’s willingness to experiment with decentralized systems marks a notable shift in public administration approaches [14]. The initiative is still in the finalization stage, with Lutnick stating that the team is “ironing out all the details” [15].

Source:

[1] https://cryptobriefing.com/blockchain-economic-data-us-commerce/

[2] https://www.cryptotimes.io/2025/08/27/u-s-commerce-dept-to-publish-gdp-on-blockchain/

[3] https://tradersunion.com/news/cryptocurrency-news/show/461734-trump-administration-embraces/

[4] https://blockworks.co/news/commerce-publishing-gdp-data-blockchain

[5] https://www.ainvest.com/news/blockchain-role-gdp-data-digital-2508/

[6] https://www.cryptopolitan.com/u-s-gdp-data-on-blockchain-howard-lutnick/

[11] https://www.ainvest.com/news/blockchain-dawn-commerce-department-data-ignite-institutional-adoption-market-growth-2508/

[12] https://www.binance.com/square/post/28847710312273