Bergen County, New Jersey, launches the largest real estate deed blockchain project in the United States

Recently, Bergen County, New Jersey, signed a five-year agreement with blockchain software company Balcony to migrate approximately 370,000 property deeds in the county to the Avalanche blockchain network, involving real estate assets with a total value of approximately $240 billion.

The project aims to improve the efficiency and security of property record management through blockchain technology, and provide services to nearly 1 million residents in 70 municipalities under Bergen County.

Balcony said its platform can reduce deed processing time by 90% and reduce the risk of fraud, title disputes and administrative errors.

"By digitizing property records, we make the process simpler, faster and safer for owners, businesses and future generations," said John Hogan, Bergen County Clerk.

The collaboration marks the largest real estate deed tokenization project in the United States, reflecting the positive attitude of local governments in exploring the application of blockchain technology.

Balcony has previously deployed similar systems in other counties and cities in New Jersey, including Camden, Orange and Cliffside Park, and plans to promote them across the state in the future.

The Avalanche blockchain, with its high speed, low cost and customizability, has become the technical foundation of this project.

Luigi D’Onorio DeMeo, Chief Strategy Officer of Ava Labs, said: “Blockchain is solving complex real-world problems. Avalanche’s infrastructure can quickly and securely process large amounts of data, which is exactly what modern real estate record management requires.”

The implementation of this project is expected to bring higher administrative efficiency and stronger data security to Bergen County, becoming a model for the application of blockchain technology in the field of public services.