The United States government has taken advantage of Chainlink and Pyth, two Blockchain Oracle suppliers, to publish economic data in the chain.
Chainlink was selected to provide data food from the Office of Economic Analysis (BEA), and will publish additional data foods in response to consumer demand or instances of the United States government, said a spokesman for Chainlink to Cointelegraph.
These feeds include the real price index GROSS PRODUCT (GDP), the Personal Consumer Expenses Price Index (PCE) and real final sales to private national buyers, the company saying.
Pyth was also selected by the Trade Department to be a Gross Domestic Data Editor (GDP), total economic production in a year, according to a advertisement Thursday.
Publishing government data in the chain is part of the Trump administration plan to make government spending more transparent in an attempt to improve responsibility and make the United States a “world capital” of cryptography.
Related: Filipino legislator who proposes to put the government budget in blockchain
Bringing government economic data in the chain will provide positive benefits to detect cryptographic markets, said a Chainlink spokesman.
These include automated commercial strategies that are executed based on the change in government data, real -time prediction markets for macroeconomic developments and risk management strategies for decentralized finance protocols (DEFI).
Stablecoins, tokenized government bonds, contracts for perpetual futures, active tokenized in the real world (RWAS) and other digital financial instruments that depend on macroeconomic inputs will also benefit from the government’s economic data in the chain.
The proposals to bring public spending data and other macroeconomic figures in the chain are currently promoting in the Philippines, the United Kingdom and El Salvador.
Ocular potential of Operators Profit for cryptographic markets
The price of Pyth (Pyth) increased by almost 70% in the news, and the link (link) recorded modest profits of more than 3% before returning to around $ 25.
Link has recovered in approximately 61% since the beginning of August, moving from a minimum of approximately $ 15.43 per Token to the current price level.
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