In a dramatic – and somewhat strange – statement, the American minister of purchase of Howard Lutnick on national television stated that “the Ministry of Trade is starting to publish his statistics on the blockchain.
He added: “We are going to put the GDP on the blockchain so that people can use the blockchain for data, distribution, and then we will make it available to the entire government so that you can do it all.”
So yes, Lutnick – who held up and tested on Tether’s reserves – does not seem to understand what a blockchain is or how it works.
Disturbing? Only if you care about the global financial system.
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GDP on the blockchain?
The website of the Federal Reserve Economic Data (Fred) is considered the global gold standard for accurate reporting of national economic data.
That is of course not enough for the Trump government and Lutnick, who would like to strengthen the legacy of Donald Trump as ‘the crypto president’.
This will be a solution for the Bureau of Labor Statistics, where individuals have already been fired for correcting data and the number of personnel numbers that have been eroded by the failed Doge experiment by Elon Musk.
I suspect that you want an explanation of exactly how the statistics of the Ministry of Commerce and the American gross domestic product (GDP) are placed on the blockchain?
Unfortunately, That is a state secret And if you even ask, volumes speak of your loyalty.
It is important to point out that everyone at Proto’s was initially unclear what GDP actually meant on the blockchain. However, once we were told that it came directly from Howard Lutnick, we all realized that it was brilliant.
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Yes. Gbp. On the blockchain.
Let’s go through this. According to the Fred website, the gross domestic product is the market value of the goods and services produced by labor and real estate in a country.
If that all puts on “The Blockchain”, it sounds impossible because it is. But Lutnick did not mean that all American goods and services and property are put on the blockchain.
He meant to place the freely available data, collected and distributed every three -month, and easy to find here, on the blockchain.
Which blockchain will the data be on? Unclear.
Why are this data, which is already freely available and widely spread, are placed on a blockchain at all? Unclear.
What did Lutnick mean when he said: “You can do it all” at GDP on the blockchain? Unclear.
The only thing that everyone needs to know is that this is the innovative and important work that the “crypto president” and his stablecoin -bestie work on while he tarails the whole world and Increasing the national debt exponentially.
It is just good to see that this administration is entitled to its priorities.