The US government has tapped Chainlink and Pyth, two blockchain oracle providers, to publish economic data onchain.
Pyth was selected by the Department of Commerce to be a publisher of gross domestic product (GDP) data — the total economic output in a year — according to an announcement on Thursday.
Oracle provider Chainlink was also tapped by the US Department of Commerce to provide data feeds from the Bureau of Economic Analysis (BEA).
These feeds include real gross domestic product (GDP), personal consumption expenditures (PCE) price index, and real final sales to private domestic purchasers, the company announced.
Publishing government data onchain is part of the Trump administration’s plan to make government spending more transparent in a bid to improve accountability.
Related:Philippine lawmaker to propose putting government budget on blockchain
US Government taps Chainlink, Pyth to publish economic data onchain
The US government has tapped Chainlink and Pyth, two blockchain oracle providers, to publish economic data onchain.
Pyth was selected by the Department of Commerce to be a publisher of gross domestic product (GDP) data — the total economic output in a year — according to an announcement on Thursday.
Oracle provider Chainlink was also tapped by the US Department of Commerce to provide data feeds from the Bureau of Economic Analysis (BEA).
These feeds include real gross domestic product (GDP), personal consumption expenditures (PCE) price index, and real final sales to private domestic purchasers, the company announced.
Publishing government data onchain is part of the Trump administration’s plan to make government spending more transparent in a bid to improve accountability.
Related: Philippine lawmaker to propose putting government budget on blockchain