US Commerce Secretary Howard Lutnick announced that the Commerce Department will begin publishing economic statistics including Gross Domestic Product (GDP) data via blockchain technology.
The announcement was made during a cabinet meeting at the White House on Tuesday and was described as a step towards expanding the distribution of blockchain-based data across government agencies.
He said the Commerce Department will begin publishing its statistics on blockchain, following Donald Trump’s endorsement of a crypto president, and they will place GDP on the blockchain so that the public can use it for data and distribution.
The initiative will start with GDP data before expanding to other federal departments once all the implementation details are finalized.
Several other countries are also leveraging the technology in public administration.
In 2016, the Estonian government integrated the KSI Guardtime blockchain into its eHealth system to manage over a million patient records.
The same infrastructure is now used in the country’s digital ID network, making Estonia one of the early pioneers in government use of blockchain
