Bergen County, New Jersey to put $240 billion in real estate deeds on blockchain via Avalanche

Odaily News Bergen County, New Jersey announced that it will use the Avalanche network to digitize approximately 370,000 real estate deeds with a total value of approximately $240 billion over the next five years through a partnership with blockchain software company Balcony. The project will cover 70 municipalities in the county, serving nearly one million residents, and aims to improve the efficiency and security of real estate record management. Bergen County official John Hogan said the move will make property record processing easier, faster and more secure, and its platform can reduce deed processing time by 90%, and help detect municipal revenue loss due to incomplete records. The project is considered to be the largest real estate deed on-chain program in the United States to date, reflecting the continued development trend of tokenization of real-world assets (RWA). (CoinDesk)