After GDP, U.S. may put CPI data on blockchain, according to Mike Cahill

The Street Crypto
The Street Crypto
PYTH-2.56%

The U.S. Department of Commerce has teamed up with Pyth Network to publish official economic data on blockchains, a move that signals Washington’s push toward modernizing financial infrastructure.

Mike Cahill, CEO of Douro Labs — the primary developer of Pyth Network — told TheStreet Roundtable that the current administration is intent on making the U.S. a leader in digital assets.

“The current administration is very crypto friendly and happy to explore the innovations that this allows,” Cahill said. “There is a real appetite for the United States to become the world leader in financial technology innovation.”

He noted that U.S. Commerce Secretary Howard Lutnick’s experience modernizing Treasury markets played a role in advancing the partnership. 

“I think he saw this as a resonation of this is going to be good for the entire economy. This is a modernization story,” Cahill said.

Related: What are...

Show original
Visit source
1.67K
0
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.