Catenaa, Monday, June 09, 2025-Bergen County, New Jersey, plans to digitize 370,000 property deeds worth about $240 billion using the Avalanche blockchain network, officials announced recently.
The project, under a five-year agreement with blockchain software firm Balcony, will create an immutable, searchable ledger to serve nearly one million residents across 70 municipalities.
County Clerk John Hogan said the initiative aims to simplify, speed up, and secure property record management for homeowners and businesses, while providing long-term benefits for future generations. The move is the largest real estate deed tokenization effort in the U.S. to date.
This project reflects a growing trend of tokenizing real-world assets (RWA) like property, bonds, and funds to improve operational efficiency and security.
A report from Boston Consulting Group and Ripple projects the tokenized asset market could reach $18.9 trillion by 2033, with real estate making up a significant portion.
Balcony’s blockchain platform, already deployed in several New Jersey counties, claims to reduce deed processing time by up to 90% while helping municipalities detect and recover lost revenues. In Orange, New Jersey, the company identified nearly $1 million in previously uncollected funds due to outdated property records.
The Bergen County project marks a significant step toward broader adoption of blockchain in public record-keeping and real estate management.
