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- Bergen to digitize 370,000 deeds worth $240B in U.S. blockchain land project.
- Blockchain cuts deed processing time by 90% and reduces fraud and record errors.
- Secure digital records boost transparency, data accuracy, and public trust in Bergen.
The New Jersey county of Bergen has revealed plans to use blockchain to create a digital version of its land records. The county has made a 5-year agreement with Balcony and plans to move 370,000 property deeds onto a blockchain platform. The total real estate value represented by these records is about $240 billion, making it the biggest U.S. deed tokenization project to date.
With the help of Avalanche technology, Balcony will support Bergen County in creating a secure, convenient and online chain of title for each of its 70 municipalities. The goal is for this process to decrease deed processing by 90% and make it much less likely for fraud, title problems and clerical errors to happen.
Modernizing Land Management
This approach improves the ways governments are handling the land market, according to Dan Silverman, CEO of Balcony. The efforts of Bergen are proving that blockchain is helpful in real-life situations for public organizations and individuals alike.
With nearly one million people living there, Bergen County collects through property taxes roughly $500 million a year. It is not just a good idea but a mandatory action to sustain that value with current systems, according to officials. In 2024, over 7 out of 10 ransomware attacks against local governments asked for more than $1 million, pointing to severe problems in their old infrastructure.
The new system powered by blockchain provides more than just a speed boost. Accurate property information is accessible anytime to homeowners, lawyers and municipal staff through the platform. By being more open, both efficiency and the public’s trust in recordkeeping are raised.
Bergen Boosts Data Accuracy
Balcony is bringing the same systems to several municipalities across New Jersey, for example, Camden, Morristown, Orange, Fort Lee and Cliffside Park. Because of blockchain technology, missing information in their system was almost $1 million. This result proves why blockchain is important for accurate and recoverable data.
According to Gregg Lester, President of Balcony, trust between communities and their governments depends on the accuracy of land records. Moving city assets to digital platforms helps improve transparency, results in better data and supports sound city planning.
County Clerk John Hogan pointed out the lasting advantages for the community. This is to improve the way we get things done, speed it up and keep everyone protected, he commented. The goal is to help homeowners now and create a safer world for the next generation.
Bergen is one of the first top-50 U.S. counties to try this solution and it is showing true leadership. Indications are that other countries may soon adopt blockchain, with it becoming the standard way to manage public records.
