The US government is considering putting key economic data, like GDP, onto a blockchain. Commerce Secretary Howard Lutnick pitched the idea to President Trump, calling him the “crypto president.”
Blockchain in Government: It’s Not New
This isn’t a completely new idea. Many countries already use blockchain for government stuff:
- Estonia: Uses blockchain to secure millions of medical records.
- European Union: Launched a blockchain infrastructure (EBSI) in 2018.
- Singapore and Australia: Tested blockchain for international trade.
- California: Used blockchain to digitize millions of car titles.
Why Put GDP on a Blockchain?
The idea is to make economic data more trustworthy. The Trump administration, and others, have questioned the reliability of official numbers. Putting it on a blockchain would make it harder to tamper with or secretly change. While blockchain improves data management, it doesn’t guarantee the data itself is accurate – that depends on how the data is collected.
Which Blockchain? And What’s Next?
The plan is to start with GDP, then maybe add other economic indicators. No blockchain has been chosen yet, but US-based options like Solana, XRP Ledger, or Aptos are possibilities, reflecting an “America First” approach. There’s no firm timeline.
The Law’s on Board (Maybe)
This idea fits with the “Deploying American Blockchains Act of 2025,” which is working its way through Congress. This bill aims to get the US government more involved with blockchain technology.
Market Reaction and Potential Winners
The news was generally well-received by the crypto market. Some think that blockchains like Solana and XRP could benefit if they’re chosen for the project. But what other cryptos might see a boost?
Bitcoin Hyper ($HYPER)
This Layer-2 solution for Bitcoin aims to improve scalability by using the Solana Virtual Machine (SVM). They predict a massive price increase.
Snorter Token ($SNORT)
This token powers a Telegram bot that trades meme coins, promising low fees and high gains. Their presale has already raised millions.
Numeraire ($NMR)
This AI-backed crypto hedge fund has a big backer: JP Morgan, which invested $500 million. While the token’s price has fluctuated, there’s potential for growth.
The Bottom Line
Putting GDP on a blockchain could be a big deal for crypto and government transparency. While $SNORT and $HYPER are mentioned as potential beneficiaries, remember that crypto is risky. Always do your own research before investing. This isn’t financial advice.