A New Jersey County should tokensize 240 billion dollars in ownership acts after having signed an agreement with the land file management firm supported by the blockchain.
The balcony declared on May 28 that it had signed a five -year agreement with the Bergen County Clerk Office for Tokenize 370,000 actions on avalanche blockchain, adding that it was “the biggest tokenization project of acts based on blockchain in American history”.
Bergen County is the most populous county in New Jersey and is located northwest of Manhattan in New York through the Hudson river. Bergen County has nearly a million residents, producing around $ 500 million in annual tax revenue.
240 billion dollars in real estate arrive at home.@BalConyTech Works with the county of Bergen and several other municipalities of the NJ to digitize the property files, and it is propelled by Avalanche.
This is the biggest blockchain initiative in the history of the United States. pic.twitter.com/aei0t5nffp
– Avalanche🔺 (@avax) May 28, 2025
The agreement was supported by Blizzard, a venture capital fund focused on the avalanche.
The balcony said that the project will allow the county of Bergen to obtain a successful and available title channel in all its 70 municipalities.
The balcony expects integration will reduce the processing deadlines by more than 90% while reducing the risk of fraud, title disputes and administrative errors.
Balcon CEO Dan Silverman said the project was a “turning point” for government record systems and real estate.
“We demonstrate how distributed systems can replace obsolete infrastructure and offer real value for governments and the public.”
The balcony provides for the expansion of New Jersey and beyond
Balcony said he was working with several other New Jersey counties – notably Camden, Orange and Cliffside Park – to modernize their real estate management files.
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He said Orange County has lost nearly a million dollars in municipal income due to incomplete and obsolete files as part of the current management system, highlighting the need for a more effective solution.
The tokenization of 370,000 real estate acts in the county of Bergen carries the total number of acts of tokenized in New Jersey to around 460,000.
The balcony said it intended to extend beyond New Jersey in the future.
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