A New Jersey county is ready to tokenize $240 billion price of property deeds after signing a cope with the blockchain-backed land report administration agency Balcony.
Balcony stated on Could 28 that it signed a five-year cope with the Bergen County Clerk’s Workplace to tokenize 370,000 deeds on the Avalanche blockchain, including that this was “the most important blockchain-based deed tokenization venture in US historical past.”
Bergen County is New Jersey’s most populous county and is situated northwest of Manhattan in New York Metropolis throughout the Hudson River. Bergen County has practically 1 million residents, producing round $500 million in annual property tax income.
$240B in actual property is coming on-chain.@balconytech is working with Bergen County and a number of different NJ municipalities to digitize property information, and it’s powered by Avalanche.
That is the most important blockchain deed initiative in U.S. historical past. pic.twitter.com/aeI0t5nffp
— Avalanche🔺 (@avax) Could 28, 2025
The deal was backed by Blizzard, an Avalanche-focused enterprise capital fund.
Balcony stated the venture will permit Bergen County to acquire a tamper-proof, searchable chain of title throughout all of its 70 municipalities.
Balcony expects the combination will minimize deed processing instances by over 90% whereas lowering the danger of fraud, title disputes and administrative errors.
Balcony CEO Dan Silverman stated the venture was a “turning level” for presidency report methods and actual property.
“We’re demonstrating how safe, distributed methods can substitute outdated infrastructure and ship real-world worth for each governments and the general public.”
Balcony plans growth in New Jersey and past
Balcony stated it’s working with a number of different counties in New Jersey — together with Camden, Orange and Cliffside Park — to modernize their actual property administration information.
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It stated that Orange County misplaced practically $1 million in municipal income attributable to incomplete and outdated information underneath the present administration system, highlighting the necessity for a more practical resolution.
The tokenization of 370,000 property deeds in Bergen County brings the overall variety of tokenized deeds in New Jersey to roughly 460,000.
Balcony stated it intends to develop past New Jersey sooner or later.
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