Bergen County, New Jersey, has signed a five-year agreement with blockchain land record firm Balcony to tokenize 370,000 property deeds — worth an estimated $240 billion — using the Avalanche blockchain, marking the largest deed tokenization project in U.S. history.
Announced on May 28, the project will transform property records across 70 municipalities in the county, home to nearly 1 million residents.
Key Details
- Blockchain: Avalanche
- Firm: Balcony
- Scope: 370,000 property deeds
- Value: $240 billion
- Support: Backed by Avalanche’s VC arm, Blizzard
- Impact: 90%+ reduction in processing times, fraud risk mitigation, streamlined title tracking
Real-World Blockchain Utility
Balcony CEO Dan Silverman called the initiative a “turning point for government record systems,” emphasizing the advantages of secure, decentralized infrastructure for reducing:
- Fraud and title disputes
- Administrative errors
- Processing delays
The digital records will create a tamper-proof, searchable chain of title, increasing transparency and efficiency in real estate transactions.
Expansion Plans
Balcony isn’t stopping with Bergen County. It’s working with other New Jersey municipalities like:
- Camden County
- Orange County (which reportedly lost $1M due to outdated records)
- Cliffside Park
With this deal, New Jersey now has ~460,000 tokenized deeds, and Balcony has announced intentions to expand beyond the state in the near future.
Why This Matters
This deal underscores a growing trend of blockchain adoption in public infrastructure:
Cuts costs and bureaucracy
Improves data integrity and access
Attracts investment and innovation
Demonstrates real-world, large-scale use of crypto/blockchain beyond speculation
As other local governments watch the Bergen County pilot unfold, this could become a blueprint for nationwide adoption of tokenized property systems.