US Gov Chooses LINK & PYTH for Data On-Chain – What’s Next?

"As more data sets become available over time, more opportunities will be made possible. And the third reason why this initiative could drive demand is that it could inspire other governments to do the same, which would in turn boost the adoption of the participating blockchains. Some would argue that this is inevitable since any governments that refuse to offer the same transparency could easily appear to be corrupt."

"From our perspective, the data sets that are most likely to end up on chain next are the big hitters, so to speak. This means that key releases that are closely watched by market analysts everywhere, such as inflation and the consumer price index or CPI, they could be next in line. Following that, we could see other important economic data sets added on chain, such as non-farm payrolls and the unemployment rate. Others could then be added later, such as retail sales, durable goods orders, trade balance, and industrial production."

"This would mean that a number of other government departments and agencies would move onchain just like the commerce department has. For instance, the Treasury Department could publish things like budget data, Treasury yields, and federal debt. The Bureau of Labor Statistics could move onchain by publishing employment and wage statistics and like jobs reports and the unemployment rate. And the Census Bureau could add data releases on things like population and housing. Heck, even the SEC and the Federal Reserve could move onchain, which would have been impossible to think just one year ago."

"This initiative is actually incredibly bullish for crypto adoption and will go a long way to supporting its long-term growth. Over time, this will be huge for bringing new users to the blockchain selected by the US government and by extension the broader crypto market."