#USGDPDataOnChain : GDP #America - now in blockchain? 🤯 Sounds like sci-fi, but let’s figure it out!
In short, there’s been a buzz about attempts to stuff data about the US GDP – which is, you know, an indicator of everything – right into the blockchain. Why? Well, first of all, transparency. Everyone can see what’s happening without any manipulations or "oops, a mistake happened". Secondly, speed. Information is updated instantly, instead of waiting for those quarterly reports like manna from heaven.
But a bunch of questions immediately arise. Who will be this node of truth? Who will verify that the data is real? How to deal with errors? In general, there’s plenty of headache.
And yet, the idea itself is cool. Imagine that all economic indicators – inflation, unemployment, anything – live on the blockchain. This is a revolution! Investors can see the picture right away, algorithms work more accurately, risks are lower.
Of course, there’s still a lot of work to do. But the trend towards decentralization and transparency cannot be stopped anyway. So we wait. Maybe soon we’ll be trading stocks, knowing GDP in real time thanks to #blockchain . Sounds cool, right? 🚀
