New Jersey’s $240B Property Revolution: Will Avalanche Redefine Real Estate Forever?
Bergen County, NJ, is tokenizing $240B in property records on Avalanche, slashing deed processing times by 90%. This historic blockchain move could transform real estate security and efficiency. Is this the future of property ownership?
On May 28, 2025, Bergen County, New Jersey, launched the largest blockchain-based property deed tokenization project in U.S. history, digitizing 370,000 property records worth $240 billion onto the Avalanche (AVAX) network, per Crypto News. Led by Balcony, a real estate infrastructure firm, this five-year initiative with the Bergen County Clerk’s Office uses AvaCloud to create a tamper-proof, searchable ledger, serving nearly 1 million residents across 70 municipalities.
The project cuts deed settlement times from 90 days to one, addressing fraud and inefficiencies after 23 New Jersey municipalities faced cyberattacks in 2023, costing up to $1 million each, per Avalanche. Balcony’s platform, already active across New Jersey with $290 billion in tokenized assets, enhances transparency and security. Avalanche’s high-speed, low-cost blockchain supports this scale, boosting AVAX’s price by 5% to $23.09, per CoinDesk.
For beginners, this shows blockchain’s real-world impact, making property records safer and faster. However, cybersecurity risks and regulatory hurdles could challenge adoption. As tokenization grows—seen in Dubai’s $16B XRP Ledger project—investors should diversify and monitor progress to capitalize on this transformative trend.
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The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
