By admin 
A New Jersey county is about to tokenize $240 billion value of property deeds after signing a take care of the blockchain-backed land file administration agency Balcony.
Balcony said on Could 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 most important blockchain-based deed tokenization challenge 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 data, 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) May 28, 2025
The deal was backed by Blizzard, an Avalanche-focused enterprise capital fund.
Balcony mentioned the challenge will permit Bergen County to acquire a tamper-proof, searchable chain of title throughout all of its 70 municipalities.
Balcony expects the mixing will cut deed processing times by over 90% whereas decreasing the danger of fraud, title disputes and administrative errors.
Balcony CEO Dan Silverman mentioned the challenge was a “turning level” for presidency file techniques and real estate.
“We’re demonstrating how safe, distributed techniques can substitute outdated infrastructure and ship real-world worth for each governments and the general public.”
Balcony plans enlargement in New Jersey and past
Balcony mentioned 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 data.
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It mentioned that Orange County misplaced practically $1 million in municipal income attributable to incomplete and outdated data underneath the present administration system, highlighting the necessity for a simpler answer.
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 mentioned it intends to develop past New Jersey sooner or later.
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