The ChainLink Network native token, Link increased by more than 5% after the network announced a partnership with the US trade ministry to provide official economic data on economic data, marking a leading effort to fill the infrastructure of public data with blockchain applications.
Key macroeconomic statistics of the Bureau of Economic Analysis – as the real gross domestic product (GDP)Personal consumption expenses (PCE) The price index and real final sales to private national buyers – are now accessible in ONCHAIN via ChainLink data flows, the company announced in a blog article on Thursday. Six data points in total are being published, in particular both absolute levels and changes as a annualized percentage.
The data is available on ten blockchain networks, including Ethereum Avalanche and optimism . ChainLink indicates that flows will update monthly or quarterly, reflecting the release schedules for their traditional counterparts.
The initiative opens up new possibilities for the construction of developers in DEFI and beyond. For example, loan protocols could adjust interest rates according to GDP trends, while prediction markets could incorporate the PCE index into inflation forecasts from crowdsource.
“Bringing American government data onchain unlocking innovative use cases for blockchain markets, such as automated trading strategies, increased component of tokenized assets, the delivery of new types of digital assets, real -time prediction markets for Crowdsourcée intelligence, transparent edge tables fueled by immutable data And the blog said.
Chainlink has deepened his commitment to American decision -makers this year, including several meetings with the Securities and Exchange Commission (SECOND) To help clarify how the blockchain infrastructure is held within the existing broker and transfer agent, as well as other legislators to help establish the Act on Engineering, said the company.
By providing federal economic indicators, Chainlink tries to normalize blockchain as a destination for mission critical public data-offering transparency and composibility that traditional systems do not support easily, he said.
Read more: Chainlink links on membership of the tokenization initiative of the dry working group Crypto Task Force
