B
ergen County, New Jersey is partnering with Balcony to digitize 370,000 property deeds using blockchain technology. This initiative, powered by Avalanche, aims to bring approximately $240 billion in real estate value on-chain and improve security, processing speed, and transparency.

    The project, the largest blockchain-based deed tokenization project in U.S. history, will provide a tamper-proof, fully digitized, and searchable chain of title. It is expected to reduce the risk of fraud, title disputes, and administrative errors by more than 90%. The Bergen County Clerk's office will leverage Balcony's platform, which uses AI to detect anomalies in deeds before they are recorded.

    The partnership between Bergen County and Balcony is a significant step forward for blockchain adoption in government. "This initiative may put New Jersey on the map as a leader in blockchain innovation across the country," said Dan Silverman, CEO of Balcony.

    The project will also improve usability, with a goal to create an intuitive and easy-to-use interface that lives on the county's website. The Bergen County Clerk's office plans to offer training and outreach to support the transition, making it easier for residents to access property information.

    By bringing all property records on-chain, the initiative aims to prevent fraudulent deed submissions and ransomware attacks. "If we can prevent just one ransomware attack over the five years, it'll more than pay for itself," said Silverman.

    The partnership between Bergen County and Balcony is a significant step forward in modernizing how property records are managed and transforming public institutions' operations. The project's success could lead to broader adoption of blockchain technology in government and real estate industries nationwide.