Commerce Secretary Howard Lutnick announced that the Department of Commerce will begin issuing economic data on the blockchain. This initiative is presented as a part of the Trump administration's outreach to the cryptocurrency industry. Lutnick did not specify which blockchain will be utilized or what practical advantages this shift will provide to government operations. The initiative is intended to possibly expand throughout the entire U.S. government. The Department of Commerce manages significant data-gathering functions, including the U.S. census, which are already publicly accessible. While the use of blockchain is touted for its visibility and transparency, its practicality in this context may remain unclear until further details are revealed. Lutnick has connections to the crypto industry, specifically with Cantor Fitzgerald, which works closely with stablecoins. However, the exact benefits and operational specifics of utilizing blockchain for government data remain to be seen.

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