New Jersey county to tokenize $240B property deeds
A New Jersey county is ready to tokenize $240 billion value of property deeds after signing a take care of the blockchain-backed land report administration agency Balcony.
Balcony stated on Might 28 that it signed a five-year take care of the Bergen County Clerk’s Workplace to tokenize 370,000 deeds on the Avalanche blockchain, including that this was “the biggest blockchain-based deed tokenization undertaking in US historical past.”
Bergen County is New Jersey’s most populous county and is positioned northwest of Manhattan in New York Metropolis throughout the Hudson River. Bergen County has almost 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 biggest blockchain deed initiative in U.S. historical past. pic.twitter.com/aeI0t5nffp
— Avalanche🔺 (@avax) Might 28, 2025
The deal was backed by Blizzard, an Avalanche-focused enterprise capital fund.
Balcony stated the undertaking will enable 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 occasions by over 90% whereas lowering the danger of fraud, title disputes and administrative errors.
Balcony CEO Dan Silverman stated the undertaking was a “turning level” for presidency report techniques and actual property.
“We’re demonstrating how safe, distributed techniques can exchange outdated infrastructure and ship real-world worth for each governments and the general public.”
Balcony plans enlargement 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It stated that Orange County misplaced almost $1 million in municipal income as a result of incomplete and outdated information underneath the present administration system, highlighting the necessity for a simpler resolution.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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