The lads discuss the US Dept of Commerce annoucement of publishing government data on-chain.
"No more revising job numbers or GDP after the fact. Real-time prediction markets will give more accurate indications than manipulated official data"
We are entering the era of verifiable government. It starts with basic economic data from which we can build efficient markets. Soon its federal defense contract, foreign “aid”, and every tax dollar spent by our representatives. 🇺🇸
The Chainlink partnership with US Department of Commerce is the tip of the iceberg:
- Real Gross Domestic Product (GDP)
- Personal Consumption Expenditures (PCE) Price Index
- Real Final Sales to Private Domestic Purchasers
Imagine DeFi built on top of federal economic data:
- automated trading strategies
- increased composability of tokenized assets
- the issuance of new types of digital assets
- real-time prediction markets for crowdsourced intelligence
- transparent dashboards powered by immutable data
- DeFi protocol risk management based on macroeconomic factor
No more revising economic data months later. Real-time, verifiable, economic data for internet capital markets.
I wasn’t a big fan of $LINK until @ChainLinkGod came on The Rollup TV but now I’m seriously LINK-pilled.
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