In a move to enhance transparency, the U.S. government announced on Thursday that it will publish economic data on blockchain using Chainlink and Pyth, two leading oracle providers.
Chainlink will provide data feeds from the Bureau of Economic Analysis (BEA), including real gross domestic product (GDP), Personal Consumption Expenditures (PCE) price index, and real final sales to private domestic purchasers.
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Additional data feeds may be added based on consumer demand or government directives, according to a Chainlink spokesperson.
The Department of Commerce also selected Pyth to publish GDP data, representing the total economic output of the U.S. in a given year, as announced on Thursday.
This initiative aligns with the Trump administration’s goal to increase accountability in government spending and position the U.S. as a global hub for cryptocurrency innovation.
By bringing economic data on-chain, the government aims to enable automated trading strategies, real-time prediction markets for macroeconomic trends, and enhanced risk-management tools for decentralized finance (DeFi) protocols.
Stablecoins, tokenized government bonds, perpetual futures, and other digital assets tied to macroeconomic data are expected to benefit significantly.
Similar efforts to publish public spending and economic data on blockchain are underway in the Philippines, the United Kingdom, and El Salvador.
Impact on Pyth Network & Chainlink Price
Following the announcement, Pyth’s token (PYTH) surged nearly 70%, reaching $0.2215. Chainlink’s token (LINK) saw a modest 3% increase, peaking above $25 before stabilizing. Since early August, LINK has risen approximately 61%, climbing from $15.43 to its current level.
