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

Planet News: Bergen County in New Jersey announced that it will digitize approximately 370,000 real estate deeds worth around $240 billion over the next five years through collaboration with blockchain software company Balcony, utilizing the Avalanche network. The project will cover 70 municipal jurisdictions in the county, serving nearly a million residents, with the aim of improving the efficiency and security of real estate record management. Bergen County official John Hogan stated that this initiative will make property record processing more convenient, faster, and secure, with their platform capable of reducing deed processing time by 90% and helping to identify municipal revenue losses due to incomplete records. The project is considered the largest real estate deed on-chain plan in the United States so far, reflecting the ongoing trend of real-world asset (RWA) tokenization. (CoinDesk)