Hassan Maishera
On Wednesday, the Avalanche Foundation announced via a blog post that Balcony, a real estate infrastructure company, is building on its own Avalanche Layer 1 (L1) through AvaCloud.
Balcony has also signed a landmark five-year agreement with the Bergen County Clerk’s Office in New Jersey to digitize and tokenize the property records of over 370,000 parcels.
Balcony’s infrastructure uses Avalanche’s high-speed, low-cost, and customizable technology stack to bring deed records on-chain across all 70 municipalities in Bergen County. The system is powered by AvaCloud, enabling Balcony to launch a scalable, purpose-built Avalanche L1 that meets the performance and security demands of large public institutions.
By leveraging Avalanche’s blockchain, deed settlement time drops from 90 days to just one day. Records are digitized, searchable, and tamper-proof. Public infrastructure becomes more resilient against ransomware and fraud. County staff and residents gain secure, instant access to vital property documents.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up 2% today and currently trades at $23.73 per coin.
