Bergen County, New Jersey, will implement the tokenization of $240 billion real estate deeds on the Avalanche network.

According to a report from CoinDesk on May 29, Deep Tide TechFlow news states that Bergen County in New Jersey, USA, will sign a five-year protocol with the blockchain software company Balcony, planning to blockchain all property record systems in the county on the Avalanche network, which will be the largest tokenization project of property deeds in the United States.

The project will migrate approximately 370,000 property deeds (total value of about $240 billion) to an immutable, searchable Blockchain ledger built on Avalanche. This system will serve nearly 1 million residents in 70 municipalities. According to Balcony, its Blockchain platform can reduce deed processing time by 90%, while also lowering risks such as fraud and record discrepancies.