Recently, the U.S. Department of Commerce announced a major decision: to officially introduce U.S. economic data into Blockchain. This initiative marks a key step in the application of Blockchain technology in the financial sector.

The first batch of on-chain data will start with the Gross Domestic Product (GDP), and will subsequently cover six major macroeconomic indicators such as Personal Consumption Expenditures (PCE) and final sales. This plan brings together multiple forces from the Blockchain industry, including Chainlink responsible for accessing official data, Pyth Network undertaking distribution and verification work, while well-known cryptocurrency exchanges such as Coinbase, Kraken, and Gemini will also be fully involved.

It is worth noting that this plan will first be implemented on mainstream blockchain networks such as Ethereum, Arbitrum, Optimism, and ZKsync. This decision indicates that the U.S. government has recognized the important position of blockchain technology in financial information infrastructure.

This move signifies that on-chain financial products based on real economic data will usher in vigorous development, including derivatives, stablecoin anchoring mechanisms, and prediction markets. This is not just an upgrade of the tokenization of real-world assets (RWA), but also marks a new stage in the standardized development of on-chain finance.

This milestone event is regarded by industry insiders as the 'Year of National Data on the Blockchain' and is also seen as an important driving force for a new cycle of decentralized finance (DeFi). With the on-chain integration of economic data, we have reason to believe that Blockchain technology will play an increasingly important role in a broader financial sector, bringing new vitality and opportunities to the global financial system.

As witnesses to this significant transformation, we will continue to pay attention to the developments in this field and explore its far-reaching impacts on the cryptocurrency market, financial innovation, and the macroeconomy.