PANews reported on May 28 that according to CoinDesk, Bergen County, New Jersey, will work with the blockchain company Balcony to migrate 370,000 property deeds (worth about $240 billion) in the area to the Avalanche blockchain in the next five years to build a searchable and tamper-proof registration system. The project is currently the largest real estate tokenization program in the United States, covering 70 municipalities and about 1 million residents, aiming to improve efficiency, reduce fraud, increase tax revenue and support the trend of asset chaining. It is expected to reduce the time required to process deeds by 90%.