GDP

The U.S. Department of Commerce has begun posting its official macroeconomic data, starting with quarterly Gross Domestic Product (GDP) figures, on public blockchains.

Finance ministers and central bank governors discussed the issue of cryptocurrency regulation during the G20 meeting in the United States on April 12-13, 2023.

According to the recent report by PwC, a global audit and consulting network, Blockchain has what it takes to add $1.76 trillion to global gross domestic product (GDP) by 2030. But what is the basis of these ambitious projections? Are these numbers practical or far from reality?

The U.S-based technology conglomerate Cisco published a report about Blockchain and revealed that the technology has the potential to store more than 10% of the globe’s total gross domestic product (GDP) by the year 2027. Blockchain will help in enhancing the internet of things, smart cities, and supply chain solutions.

In August 2018, Chancellor Philip Hammond predicted hefty economic injury from crashing out of the EU without a deal, warning of an 87.7% punch to GDP and a £80 billion void in public finances.

From observing the world economy situation, someone can easily understand we have reached dangerous times. Global debt has grown up to 230 trillion dollars with world GDP at 75 trillion dollars. The need to service this debt has led central banks to attempt to manipulate  the economy through  zero or even negative interest rates.