Bergen County, New Jersey to Chain $240 Billion Property Titles Using Avalanche Network

According to CoinDesk, Bergen County, New Jersey, USA, will collaborate with blockchain company Balcony to migrate 370000 property deeds (worth approximately $240 billion) within its jurisdiction to the Avalanche blockchain over the next five years, building a searchable and tamper proof registration system. This project is currently the largest real estate tokenization program in the United States, covering 70 municipalities and approximately 1 million residents, aimed at improving efficiency, reducing fraud, increasing taxes, and supporting the trend of asset on chain. It is expected to shorten the processing time of land deeds by 90%.