BIS Publishes Working Paper on Blockchain-Based Verifiable Official Statistics

According to BIS Working Paper 1374 published by the Bank for International Settlements (BIS), the BIS, in collaboration with multiple researchers, proposes a verifiable scheme that binds official statistics to a blockchain. The scheme computes cryptographic fingerprints of SDMX datasets and anchors the resulting hashes to the XRP Ledger, enabling independent verification of data provenance and integrity without disrupting existing data publication processes. Prototype testing shows a data publication delay of approximately 3–5 seconds and a verification delay of 1–2 seconds, meeting the requirements for real-time interaction and automated systems. Since only fingerprints—not raw data—are stored on-chain, data confidentiality is preserved. The cost model indicates that, after batch processing, on-chain fees become negligible, with a single ledger entry capable of covering thousands of datasets. The study also provides an open-source reference implementation and leaves room for future extensions, such as zero-knowledge proofs and AI-driven automated verification.