There. A.: Alex McGee, Director of income, leader of Govt. Balcony business and co-founders; Gregg Lester, president. and the Balcony co-founder; John Hogan (Bergen County clerk); Dan Silverman, CEO and Balcony co-founder; Luigi d’Onorio Demeo, Director of Strategy, Ava Labs, Avalanche creator, a blockchain supplier behind the balcony.
The Bergen County County Clerk Office signed an agreement with the Blockchain -based land file management company, Balcony, to digitize 370,000 real estate acts constituting around $ 240 billion in real estate value. This revolutionary action is the biggest project to tokenize blockchain acts in the United States. The adoption by the county of blockchain for the tokenization of acts is a first thought before for a great American county and will establish a new standard for other states, counties and cities.
Once the project is finished, the county of Bergen will have a fully digitized and available title chain in all its 70 municipalities. The Balcony platform, fueled by the Blockchain Avalanche network, will considerably accelerate the treatment of acts and reduce the risk of fraud, office errors and the number of disputes. It will also provide piracy protection and ransomware attacks.
“This is a turning point for real estate systems and public records,” said Dan Silverman, CEO of Balcony. “By working with the Bergen County clerk office to provide all chain property files, we demonstrate how secure the systems are can replace obsolete infrastructure and offer real value for governments and the public.”
The Bergen county partnership is a major step in the Balconian push to update and modernize government property systems through the state of New Jersey. Currently, Balcony joins other cities and cities in New Jersey, notably Orange, Camden, Morristown, Fort Lee and Cliffside Park. In Orange, Balcony discovered nearly $ 1,000,000 in city revenues which would never have been recovered due to an inadequate and obsolete record outfit. The objective is to increase the transparency, efficiency and public confidence in official files
“This initiative consists in improving the lives of our residents,” noted John Hogan, County County Registrar of Bergen. “By digitizing property files, we make the process simpler, faster and safer for owners, businesses and future generations. Our plan is to use this avant-garde approach to improve transparency, reduce delays and protect against hacks. ”
