New Jersey County will tokenize $240 billion in property deeds after signing an agreement with Balcony, a company that specialises in managing land records via blockchain.
On 28 May, Balcony announced that it had signed a five-year agreement with the Bergen County Clerk's office to tokenize 370,000 deeds on the Avalanche (AVAX) blockchain. The company also stated that it is the "largest deed tokenization project on blockchain in US history".
Bergen County is the most populous county in New Jersey, located northwest of Manhattan, across the Hudson River from New York City. It has a population of about one million and generates about $500 million a year in property taxes.
"$240 billion in real estate is about to go online": Balcony is working with Bergen County and other New Jersey municipalities to digitise property records, with the support of the Avalanche blockchain. "This is the largest document project on blockchain in US history," Avalanche said in an official tweet on X on 28 May 2025.
The deal was backed by Blizzard, a venture capital fund focused on Avalanche.
Balcony said the project will allow Bergen County to have an unchangeable and searchable chain of notarial deeds, covering all 70 municipalities.
$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.
- Avalanche🔺 (@avax) May 28, 2025
This is the largest blockchain deed initiative in U.S. history. pic.twitter.com/aeI0t5nffp
According to Balcony, the integration will reduce document processing time by more than 90 per cent, while also lowering the risks of fraud, title disputes and administrative errors.
Dan Silverman, CEO of Balcony, called the project a true 'revolution' for public records and real estate.
"We are demonstrating how secure, distributed systems can replace outdated infrastructure and deliver real value to both governments and citizens," said Silverman.
Expansion Beyond Bergen County
Balcony said it is also working with other New Jersey counties, including Camden, Orange and Cliffside Park, to modernise property management systems.
The company also revealed that Orange County has lost nearly a million dollars in municipal revenue due to incomplete and outdated records, highlighting the urgent need for a more efficient solution.
With the tokenization of 370,000 deeds in Bergen County, the total number of digitised property deeds in New Jersey rises to approximately 460,000.
Balcony said it intends to expand beyond New Jersey's borders. The tokenization of $240 billion in property deeds represents a key step in the transformation of real estate document management in the US. By adopting blockchain technology, the county is not only modernising its infrastructure, but also paving the way for a model that can be replicated by other public agencies nationwide.
The initiative promises to make processes smoother, reduce fraud, and increase transparency and efficiency in the preservation of public records. With the ongoing expansion of Balcony, this project could become the benchmark on how governments can leverage blockchain to improve public services.
