A New Jersey County is set to token the $ 240 billion worth of properties after signing a balcony-administered balcony-administered blockchain.
Balcony Says On May 28 it signed a five-year deal with the Bergen County Clerk office to token 370,000 works in Avalanche BlockchainAdding that this is “the largest blockchain -based tokenization project in US history.”
Bergen County is the most popular County of New Jersey and is located North -west of Manhattan in New York City across the Hudson River. Bergen County has about 1 million residents, making nearly $ 500 million in annual tax income.
The $ 240B in real estate will come to the chain.@balconytech was working in Bergen County and many other NJ municipalities to raise records in the owner, and the avalanche strengthened it.
This is the largest Blockchain Deed initiative in US history. pic.twitter.com/aei0t5nffp
– Avalanche🔺 (@avax) May 28, 2025
The deal is Backed by Blizzard, a Venture Capital fund dedicated to Avalanche.
Balkony said the project will allow Bergen County to get a tamper-proof, finding title chain in all its 70 municipalities.
The balcony expects the integration is Cut out time processing times by more than 90% while reducing the risk of fraud, title misunderstandings and administrative errors.
The CEO of the balcony Dan Silverman said the project was a “turn point” for government record systems and Real estate.
“We show how safe, the shared systems can replace the outdated infrastructure and deliver the value of the real world for both governments and the public.”
Balcony plans expand into New Jersey and more
Balcony said it works in many other counties in New Jersey – including Camden, Orange and Cliffside Park – to modify their real estate management records.
Related: Crypto leaders are wrong about tokenized possession
It said the orange county lost nearly $ 1 million in the municipal income due to incomplete and outdated notes under the current management system, featuring the need for a more effective solution.
The tokenization of 370,000 works in Bergen County carries the total number of Tokenized works In New Jersey to approximately 460,000.
Balcony said it intends to expand beyond New Jersey in the future.
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