NJ county puts property deeds on the blockchain in multi-billion dollar move - DownBeach

Bergen County, New Jersey has partnered with blockchain company Balcony to tokenize deeds for 370,000 properties worth $240 billion in a groundbreaking five-year project. This initiative represents the largest property tokenization effort in American history and aims to revolutionize real estate transactions through blockchain technology. The project will transfer property deeds to the Avalanche blockchain, promising to reduce processing times by up to 90% while minimizing fraud and ownership disputes.

• The tokenization covers properties across all 70 municipalities in Bergen County, affecting approximately one million residents
• Similar blockchain deed projects in New Jersey cities like Orange have already recovered nearly $1 million in lost revenue through improved record keeping
• New Jersey ranks second nationally in adult crypto ownership and leads in Ethereum-related searches, positioning it as a crypto-forward state
• The initiative follows global trends, with Dubai also implementing blockchain-based property tokenization allowing fractional ownership starting at $540