As new technologies such as artificial intelligence (AI), crypto and blockchain take center stage across the Garden State, the New Jersey Innovation & Technology Alliance (NJITA) has launched a program to “take away the fear and mystification” created by emerging technologies by connecting the tech community with policymakers to help shape policies that support innovation, economic development, and the tech sector.
Led by Executive Director Carlos Iván Merino, NJITA aims to educate stakeholders, policymakers and consumers about the benefits that these new technologies represent and the important role they will play in New Jersey’s future.
“New Jersey has a strong foundation as a technology and business hub, with a thriving digital asset ecosystem and a growing number of companies leveraging blockchain, artificial intelligence, and next-generation technologies to drive economic growth,” said Merino.
According to NJITA, New Jersey ranks among the top states in the nation for cryptocurrency ownership, with more than 200 blockchain and Web3 startups and $2.8 billion in venture capital investments supporting the sector. The U.S. Blockchain Coalition cited growth in Web3 activity in a report in 2024 and said New Jersey ranked fourth among U.S. states in money invested by venture capitalists in Web3 at $2.73 billion.
“These businesses are creating jobs, attracting investment, and reinforcing New Jersey’s position as a leader in the future digital economy,” Merino added.
Merino said the NJITA was established to bring together leaders in technology and innovation to advocate for smart technology policies, build industry networks, and ensure New Jersey remains competitive in an evolving digital landscape.
“We encourage collaboration between industry leaders and policymakers to develop
forward-thinking policies that attract investment and solidify the United States leadership in digital innovation,” said Merino.
Merino noted that the state’s academic institutions — such as Rutgers, Princeton and Stevens Institute of Technology — are offering specialized blockchain courses and driving research in applications for cybersecurity, smart contracts, and supply chain solutions.
“This work not only enhances New Jersey’s reputation as an innovation hub but also equips the next generation of innovators to tackle real-world challenges with blockchain-powered solutions.”
Merino said that while New Jersey’s blockchain ecosystem is thriving, there is a need for clear policies to ensure long-term growth. The NJITA will focus on education, policy advocacy, and industry collaboration to drive technological growth in the state.
Merino said blockchain and digital assets are already delivering benefits in New Jersey, debunking the perception that cryptocurrencies and their underlying technology are speculative ventures or scams.
“Instead, this technology is a powerful tool to solve societal challenges, enhance
financial inclusion, and strengthen economic stability,” Merino said.
“However, realizing this vision requires thoughtful action from policymakers at all levels,
a forward-thinking federal approach is essential to ensure that we remain at the leading
edge of the global blockchain revolution.”
