In a landmark move set to modernize property record management, Bergen County, New Jersey, has partnered with blockchain-based firm Balcony to tokenize $240 billion worth of property deeds.
The five-year agreement, unveiled on May 28, marks the largest blockchain-based deed tokenization initiative in U.S. history.
$240B in real estate is coming on-chain.@balconytech is working with Bergen County and multiple other NJ municipalities to digitize property records, and it’s powered by Avalanche.
This is the largest blockchain deed initiative in U.S. history. pic.twitter.com/aeI0t5nffp
— Avalanche🔺 (@avax) May 28, 2025
Under the deal, 370,000 property deeds across Bergen County’s 70 municipalities will be recorded on the Avalanche blockchain. Balcony, which is spearheading the project, says the move will create a tamper-proof and easily searchable digital chain of title, significantly cutting deed processing times by more than 90%.
The initiative is backed by Blizzard, a venture capital fund focused on Avalanche-based projects. Bergen County, located just across the Hudson River from Manhattan, is New Jersey’s most populous, with nearly one million residents and generating approximately $500 million in annual property tax revenue.
According to Balcony CEO Dan Silverman, the project is a pivotal step in replacing outdated government systems with secure, decentralized infrastructure.
“We’re demonstrating how secure, distributed systems can replace outdated infrastructure and deliver real-world value for both governments and the public,”
he stated.
Balcony also revealed ongoing collaborations with other counties in the state, including Camden, Orange, and Cliffside Park. In Orange County alone, nearly $1 million in municipal revenue has reportedly been lost due to outdated and incomplete records — an issue the firm aims to resolve through blockchain-backed modernization.
With the Bergen County project adding to previous efforts, the number of tokenized property deeds across New Jersey has now climbed to approximately 460,000. Balcony hinted at broader ambitions, stating that expansion beyond New Jersey is already in the pipeline.
Meanwhile, SecondSwap, a decentralized exchange for locked and vesting digital assets, announced its expansion to the Avalanche blockchain ecosystem following its earlier launch on Ethereum, aiming to create a transparent secondary market for tokens under vesting schedules, addressing a sector valued at over $100 billion that traditionally relies on opaque private deals.
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