Bergen County Signs Five-Year Deal to Tokenize 370,000 Property Deeds Worth $240 Billion on Avalanche Blockchain

Bergen County, New Jersey, the state's most populous county, has entered a five-year agreement with blockchain software firm Balconytech to digitize and tokenize approximately $240 billion worth of real estate property deeds. The initiative will migrate over 370,000 property records onto the Avalanche blockchain network using Balconytech's AvaCloud platform. This project represents the largest blockchain deed tokenization effort in U.S. history. By leveraging Avalanche's high-speed Layer 1 blockchain and integrating with Filecoin's decentralized storage, the initiative aims to create an immutable, searchable, and fraud-resistant ledger that significantly reduces deed settlement times from 90 days to one day. The digitization effort is expected to enhance transparency, improve record accessibility, and recover over $1 million in previously lost tax revenue. The collaboration also includes support from the Blizzard Fund and is seen as a major step in expanding real-world asset tokenization on blockchain platforms.

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