US Gov Chooses LINK & PYTH for Data On-Chain – What’s Next?
Published: 2025-09-07
Status:
Available
|
Analyzed
Published: 2025-09-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 17
Prediction
Topic
Status
The US government will begin publishing economic data on blockchain networks, leading to renewed investor optimism in the crypto space.
"the US government has announced it's moving onchain through a series of crypto partnerships, reigniting investor optimism."
Incorrect
The US government is moving economic data on-chain through crypto partnerships, which is expected to boost investor optimism.
"the US government has announced it's moving onchain through a series of crypto partnerships, reigniting investor optimism."
Pending
The Commerce Department will start by putting GDP data on-chain, with plans to add more economic data in the future and subsequently, other government agencies will also move their data onto the blockchain.
"the Commerce Department will be adding gross domestic product data on chain with more economic data to be added in the future. Lutnik added that once the Commerce Department has finished quote ironing out all of the details, other government agencies would begin distributing their data across the blockchain, too. Basically, the US government is slowly going to put all of its data on chain."
Incorrect
Key US economic data metrics will be made publicly viewable on the blockchain for the first time.
"the US government will now begin making key economic data metrics publicly viewable onchain for the first time in history."
Incorrect
The US government's strategy involves a gradual process of migrating all its data onto blockchain technology.
"the US government is slowly going to put all of its data on chain."
Incorrect
The Commerce Department will add GDP data on-chain, with plans to add more economic data later.
"the Commerce Department will be adding gross domestic product data on chain with more economic data to be added in the future."
Incorrect
The Commerce Department has already published key economic indicators, including GDP and PCE data, on-chain.
"the Commerce Department distributed three pairs of key economic indicators from the Bureau of Economic Analysis on Chain. Each pair included the absolute level and the quarterly percentage change."
Incorrect
Other US government agencies will start distributing their data on the blockchain, with the eventual goal of putting all government data on-chain.
"other government agencies would begin distributing their data across the blockchain, too. Basically, the US government is slowly going to put all of its data on chain."
Incorrect
The US aims to make its economic data immutable and globally accessible through blockchain technology.
"Make America's economic truth immutable and globally accessible like never before."
Correct
The Commerce Department has distributed three pairs of key economic indicators from the Bureau of Economic Analysis on the blockchain.
"the Commerce Department distributed three pairs of key economic indicators from the Bureau of Economic Analysis on Chain."
Incorrect
Nine specific blockchains have been selected by the US Commerce Department to host government economic data: Bitcoin, Ethereum, Solana, Tron, Stellar, Avalanche, Arbitrum 1, Polygon Proof of Stake, and Optimism.
"nine different blockchains were named by the commerce department in its affforementioned press release. Those nine blockchains are Bitcoin, Ethereum, Salana, Tron, Stella, Avalanche, Arbitum 1, Polygon Proof of Stake, and Optimism."
Incorrect
The US government believes that issuing data on the blockchain will enhance its legitimacy.
"the government hopes that issuing data on the blockchain will help further promote its legitimacy."
Correct
Chainlink and Pyth will be used as oracle networks to facilitate the transfer of data to the selected blockchains, with support from Coinbase, Gemini, and Kraken.
"The agency also confirmed that it had sent data through Chain Link and Pith, both of which are oracle networks with the help of Coinbase, Gemini, and Kraken."
Pending
Making US economic data available on the blockchain will increase transparency and reduce the potential for corruption by making discrepancies immediately visible.
"Putting data on the blockchain means that it's viewable by anybody at any time. And this means that any changes or discrepancies can be spotted right away. Effectively making the data immutable and less prone to corruption."
Pending
Chainlink will be responsible for bringing economic data on-chain, while Pyth will handle data verification and historical tracking.
"Chainlink will be the oracle used to bring the economic data on chain whereas Perth will be responsible for verifying that data and providing historical backtracking."
Pending
Chainlink has made economic data available on 10 blockchains, including Arbitrum, Avalanche, Base, Botanix, Ethereum, L2s, Mantle, Optimism, Sonic, and zkSync Era, with potential for more chains based on demand.
"Chainlink published a blog stating that the economic data had been made available on 10 different blockchains with other chains incorporated later depending on user demand. Those 10 blockchains are Arbitum, Avalanche, Bass, Botanics, Ethereum, Lana, Mantle, Optimism, Sonic, and ZKYNC."
Correct
US economic data is intended to be made immutable and globally accessible through this blockchain initiative.
"Lutnik has promised to quote, 'Make America's economic truth immutable and globally accessible like never before.'"
Pending
The US government has started distributing macroeconomic data onto multiple public blockchains.
"the US government has already begun distributing macroeconomic data onto a number of public blockchains."
Incorrect
The process for publishing data involves creating a SHA-256 hash of the original PDF document containing the economic data.
"the BEA published the data as a PDF. Uh the commerce department then downloaded this PDF and applied a char 256 hash basically a cryptographic reference of that file."
Correct
Economic data will be updated on-chain monthly or quarterly via Chainlink's data feeds, with Pyth providing 5 years of historical GDP data updated quarterly.
"this macroeconomic data is being pushed onchain through chain links data feeds and will be updated monthly or quarterly depending on when the data is actually published. Meanwhile, Perth will be publishing GDP data stretching back 5 years offering quarterly updates."
Pending
Nine specific blockchains (Bitcoin, Ethereum, Solana, Tron, Stellar, Avalanche, Arbitrum One, Polygon Proof of Stake, and Optimism) have been selected by the Commerce Department for government data distribution.
"nine different blockchains were named by the commerce department in its affforementioned press release. Those nine blockchains are Bitcoin, Ethereum, Salana, Tron, Stella, Avalanche, Arbitum 1, Polygon Proof of Stake, and Optimism."
Pending
Stablecoins (referred to as 'flat coins') could utilize the on-chain PCE data to maintain their peg to inflation.
"so-called flat coins could use the PCE data to ensure that they are adequately keeping up with inflation, which is what flat coins are designed to do"
Pending
Chainlink and Pyth, oracle networks, are being used to facilitate the transmission of US government data to blockchains, with assistance from Coinbase, Gemini, and Kraken.
"The agency also confirmed that it had sent data through Chain Link and Pith, both of which are oracle networks with the help of Coinbase, Gemini, and Kraken."
Pending
Prediction markets may leverage the on-chain PCE index to predict future inflation rates.
"prediction markets could use the onchain PCE index to forecast future inflation rates."
Pending
Chainlink will be used to bring economic data on-chain, while Pyth will verify the data and provide historical backtracking.
"Chain link will be the oracle used to bring the economic data on chain whereas Perth will be responsible for verifying that data and providing historical backtracking."
Correct
Key economic indicators like CPI, non-farm payrolls, unemployment rate, retail sales, durable goods orders, trade balance, and industrial production are likely candidates to be added to the blockchain next.
"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."
Pending
Economic data has been made available on 10 blockchains (Arbitrum, Avalanche, Bass, Botanics, Ethereum, Lana, Mantle, Optimism, Sonic, ZK-Sync), with more potentially added based on user demand.
"the economic data had been made available on 10 different blockchains with other chains incorporated later depending on user demand. Those 10 blockchains are Arbitum, Avalanche, Bass, Botanics, Ethereum, Lana, Mantle, Optimism, Sonic, and ZKYNC."
Correct
A total of 17 blockchains are involved in the US government's economic data on-chain initiative.
"in total 17 different blockchains have been named as part of the initiative."
Incorrect
Other government departments like the Treasury, Bureau of Labor Statistics, Census Bureau, SEC, and Federal Reserve are expected to move various data sets (budget, employment, population, etc.) onto the blockchain.
"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."
Incorrect
The US government has published a hash of the BEA's Q2 2025 GDP data release and the Q2 topline GDP growth figure.
"it had quote published a hash of the BEA's quarterly GDP data release for Q2 2025 along with the topline GDP growth figure for Q2."
Correct
Interoperability-focused projects like Polkadot and Cosmos are likely candidates to host future government data due to their ability to connect different blockchains.
"interoperability focused projects such as Polka Dot or Cosmos. Now, these projects are designed to connect different blockchains which could align with the US government's aim of distributing its economic data as broadly as possible."
Pending
US-based crypto projects may be favored for hosting government data as the US aims to be a global hub for crypto innovation and showcase domestic technology.
"cryptos that were made in America. ... as the United States pushes to cement its role as the global hub of crypto innovation, it wouldn't be surprising if the government turned to homegrown projects as a way to highlight and showcase domestic innovation."
Pending
Macroeconomic data is being pushed on-chain via Chainlink's data feeds and will be updated monthly or quarterly based on publication schedules.
"this macroeconomic data is being pushed onchain through chain links data feeds and will be updated monthly or quarterly depending on when the data is actually published."
Correct
A risk to crypto adoption is that if the on-chain data is inaccurate or questioned by the US president, it could negatively impact the public's trust in the crypto industry.
"making that data transparent and immutable seems like the obvious thing to do. The problem though is that immutability doesn't guarantee accuracy. If onchain data is again questioned by the president and his administration, this could actually be bad for crypto. And that's simply because it would seem to the untrained eye that it was crypto that was at fault, which could make the industry harder to trust. This is unfortunately the case if any data is uploaded to the blockchain with errors since those errors would not be reversible."
Pending
Pyth will publish 5 years of historical GDP data with quarterly updates.
"Meanwhile, Perth will be publishing GDP data stretching back 5 years offering quarterly updates."
Correct
Inaccurate on-chain data could lead to significant market disruptions, and excessive transparency might hinder the government's ability to implement covert fiscal interventions.
"the bigger the error, the bigger the market impact. It's also debatable whether too much transparency could actually be a bad thing. And that's because it would restrict the government's ability to implement interventions behind the scenes such as emergency fiscal measures without first revealing its intention to markets, adversaries, or other governments."
Pending
The on-chain economic data could enable new DeFi applications, such as stablecoins using PCE data to track inflation.
"the move does open up new possibilities, especially in DeFi. For instance, so-called flat coins could use the PCE data to ensure that they are adequately keeping up with inflation, which is what flat coins are designed to do, but that's a topic for another video."
Pending
Technical failures or data unavailability issues with the US government's on-chain data could lead to market havoc and investor panic.
"If the US government's onchain disclosures become crucial to the health of the financial markets, technical failures or data availability issues could cause havoc. Put simply, having this data become unavailable for any reason would spark panic among investors."
Pending
Prediction markets may utilize the on-chain PCE index to forecast future inflation rates.
"Alternatively, prediction markets could use the onchain PCE index to forecast future inflation rates."
Pending
The initiative to put economic data on-chain is considered very bullish for crypto adoption and will significantly contribute to the long-term growth of the selected blockchains and the broader crypto market.
"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."
Correct
Data analytics dashboards are expected to become more accurate and up-to-date due to the availability of on-chain economic data.
"Data analytics dashboards could also become more accurate and upto-date."
Correct
The initiative could lead to the creation of a new category of digital assets.
"And there's even the potential for an entirely new category of digital assets."
Correct
The cryptocurrencies selected by the Commerce Department are expected to benefit in the long term.
"it's only logical that the cryptos selected by the commerce department will benefit in the long term."
Pending
The list of blockchains participating in the government data initiative may expand in the future.
"This list could be longer by the time you watch this video."
Correct
Several selected blockchains (Bass, Botanics, Lana) currently lack their own tokens, with Lana planning to launch one on September 10th.
"some of the cryptos chosen by the commerce department don't actually have their own tokens, at least at the time of shooting this video. And these include Bass, an Ethereum layer 2, and Botanic, say Bitcoin layer 2. There's also Lana, another Ethereum layer 2, which is preparing to launch its own Lana token with a token generation event scheduled for the 10th of September."
Correct
Until tokenless blockchains launch their own tokens, potential gains are expected to accrue to their underlying Layer 1 chains (Ethereum for Bass/Lana, Bitcoin for Botanics).
"Until these chains launch their own tokens, this means that the potential gains will likely go to their respective layer 1 chains instead. Ethereum for Bass and Lana and Bitcoin for Botanics."
Pending
The demand for blockchains involved in the government data initiative is expected to increase significantly as more use cases emerge.
"as the use cases for putting this data onchain become more apparent, the demand for these blockchains will increase in a big way."
Correct
The initiative will allow for broader participation from various stakeholders, enabling real-time decision-making on macroeconomic events due to increased data accessibility.
"the initiative opens the door to broader participation from investors, institutions, economists, and even other governments. With economic data more accessible than ever, decisions around macroeconomic events can be made in real time."
Correct
Reliable economic data feeds will enable new DeFi products (lending, derivatives, insurance) tied to macroeconomic events, bridging traditional finance and crypto.
"Reliable economic data feeds can power new lending, derivatives, and even insurance products tied to macroeconomic events. And this not only creates exciting new opportunities, but also helps further bridge the gap between traditional finance and crypto."
Correct
This initiative may inspire other governments to adopt similar blockchain-based data strategies, boosting adoption of the participating blockchains.
"it could inspire other governments to do the same, which would in turn boost the adoption of the participating blockchains."
Correct
Key economic indicators like inflation and the Consumer Price Index (CPI) are likely to be the next data sets to be put on-chain.
"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."
Pending
Following CPI, non-farm payrolls, unemployment rate, retail sales, durable goods orders, trade balance, and industrial production are also likely candidates for being put on-chain.
"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."
Pending
The Treasury Department may publish data on its budget, yields, and federal debt on the blockchain.
"For instance, the Treasury Department could publish things like budget data, Treasury yields, and federal debt."
Incorrect
The Bureau of Labor Statistics is expected to publish employment and wage statistics, including jobs reports and the unemployment rate, on the blockchain.
"The Bureau of Labor Statistics could move onchain by publishing employment and wage statistics and like jobs reports and the unemployment rate."
Incorrect
The Census Bureau may add data related to population and housing on-chain.
"And the Census Bureau could add data releases on things like population and housing."
Incorrect
The SEC and Federal Reserve may also move their data on-chain, a development considered highly unlikely a year prior.
"Heck, even the SEC and the Federal Reserve could move onchain, which would have been impossible to think just one year ago."
Incorrect
Interoperability-focused projects like Polkadot and Cosmos are potential candidates for future government data hosting due to their ability to connect different blockchains.
"One narrative that could be considered is interoperability focused projects such as Polka Dot or Cosmos. Now, these projects are designed to connect different blockchains which could align with the US government's aim of distributing its economic data as broadly as possible."
Pending
US-made cryptocurrencies might be chosen to host future government data as the US aims to be a global crypto innovation hub.
"Another area that could be worth considering is cryptos that were made in America. ... as the United States pushes to cement its role as the global hub of crypto innovation, it wouldn't be surprising if the government turned to homegrown projects as a way to highlight and showcase domestic innovation."
Incorrect
If the accuracy of on-chain economic data is questioned, it could negatively impact the crypto industry's trustworthiness, especially if errors are present and cannot be reversed.
"The problem though is that immutability doesn't guarantee accuracy. If onchain data is again questioned by the president and his administration, this could actually be bad for crypto. And that's simply because it would seem to the untrained eye that it was crypto that was at fault, which could make the industry harder to trust. This is unfortunately the case if any data is uploaded to the blockchain with errors since those errors would not be reversible."
Correct
Excessive transparency from on-chain economic data could hinder the government's ability to implement behind-the-scenes interventions like emergency fiscal measures.
"it's debatable whether too much transparency could actually be a bad thing. And that's because it would restrict the government's ability to implement interventions behind the scenes such as emergency fiscal measures without first revealing its intention to markets, adversaries, or other governments."
Pending
Technical failures or data unavailability in the US government's on-chain disclosures could cause market havoc and investor panic if these disclosures become critical to financial markets.
"If the US government's onchain disclosures become crucial to the health of the financial markets, technical failures or data availability issues could cause havoc. Put simply, having this data become unavailable for any reason would spark panic among investors."
Pending
In a worst-case scenario, making economic data freely available on-chain could pose national security risks by exposing the US to external threats like coordinated attacks on financial infrastructure.
"in the absolute worstc case scenario, this initiative could even create risks to national security in the US. And that's because having economic data sets so freely available to the public could expose the country to external threats like coordinated attacks on financial infrastructure or targeting of specific national assets."
Pending
The government's on-chain data initiative is considered incredibly bullish for crypto adoption and will significantly contribute to its long-term growth and user acquisition.
"we believe that 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."
Pending