New Jersey
New Jersey county to tokenize $240B property deeds
A New Jersey county is set to tokenize $240 billion worth of property deeds after signing a deal with the blockchain-backed land record management firm Balcony.
Balcony said on May 28 that it signed a five-year deal with the Bergen County Clerk’s Office to tokenize 370,000 deeds on the Avalanche blockchain, adding that this was “the largest blockchain-based deed tokenization project in US history.”
Bergen County is New Jersey’s most populous county and is located northwest of Manhattan in New York City across the Hudson River. Bergen County has nearly 1 million residents, producing around $500 million in annual property tax revenue.
$240B in real estate is coming on-chain.@balconytech is working with Bergen County and multiple other NJ municipalities to digitize property records, and it’s powered by Avalanche.
This is the largest blockchain deed initiative in U.S. history. pic.twitter.com/aeI0t5nffp
The deal was backed by Blizzard, an Avalanche-focused venture capital fund.
Balcony said the project will allow Bergen County to obtain a tamper-proof, searchable chain of title across all of its 70 municipalities.
Balcony expects the integration will cut deed processing times by over 90% while reducing the risk of fraud, title disputes and administrative errors.
Balcony CEO Dan Silverman said the project was a “turning point” for government record systems and real estate.
“We’re demonstrating how secure, distributed systems can replace outdated infrastructure and deliver real-world value for both governments and the public.”
Balcony plans expansion in New Jersey and beyond
Balcony said it is working with several other counties in New Jersey — including Camden, Orange and Cliffside Park — to modernize their real estate management records.
It said that Orange County lost nearly $1 million in municipal revenue due to incomplete and outdated records under the current management system, highlighting the need for a more effective solution.
The tokenization of 370,000 property deeds in Bergen County brings the total number of tokenized deeds in New Jersey to approximately 460,000.
Balcony said it intends to expand beyond New Jersey in the future.
New Jersey
Severe thunderstorm watch declared for much of North Jersey
How to protect your NJ home from wind: Video
Here’s how to windproof your home to minimize damage, and what to do if a tree falls on your property as a result of the weather
A severe thunderstorm watch looms over North Jersey on the evening of June 12 after days of extreme heat.
Nation Weather Service New York declared a severe thunderstorm watch for numerous North Jersey counties including Bergen, Passaic, Hudson, Essex, Morris and Sussex among other Central Jersey and New York counties. The watch is in effect until 9 p.m., according to the NWS statement.
In an hourly forecast from The Weather Channel for Paramus, there is a 74% chance of thunderstorms at 7 p.m.
High temperatures reached past 90 degrees in many parts of North Jersey on June 11 and June 12 as a heat advisory also remains in effect until 8 p.m., said NWS New York.
New Jersey
Severe Storms, Dangerous Heat Targets NJ Friday
“Dangerous heat is expected to continue across much of our region through today, with several record highs likely to be challenged again. High temperatures are forecast to peak into the low to mid 90s across most of the area,” the National Weather Service said Friday.
A Heat Advisory is in effect until 8 p.m. across the state except for Atlantic, Cape May, Cumberland and Salem counties.
New Jersey
New Jersey man sentenced to 6.5 years for fatal Lehigh Valley plane crash
PHILADELPHIA – Philip McPherson II, a 37-year-old from Riverside, New Jersey, was sentenced Thursday, June 11, to 78 months in prison for his role in a 2022 plane crash in Lehigh County that killed a student pilot, according to the U.S. Attorney’s Office, Eastern District of Pennsylvania.
Sentencing and charges for fatal Lehigh Valley crash
What we know:
United States District Judge John M. Gallagher sentenced McPherson to 78 months in prison, three years of supervised release, a $5,000 fine, a $4,300 special assessment, and $19,530 in restitution. Judge Gallagher also barred McPherson from working in the aviation industry.
McPherson pleaded guilty in October to involuntary manslaughter, conspiracy to commit wire fraud, obstruction of an administrative proceeding, and 40 counts of serving as an airman without a certificate.
The backstory:
Court filings show that on September 28, 2022, McPherson took off from Queen City Airport in Allentown as the pilot-in-command with student pilot K.K. and crashed shortly after, resulting in K.K.’s death.
Prosecutors said McPherson acted with gross negligence, knowing he was not competent to fly as pilot-in-command. He had two prior crashes, nearly a third, and failed a reexamination for his pilot’s certificate in September 2021.
McPherson voluntarily surrendered his pilot’s certificate in October 2021 and let his Temporary Airman Certificate expire in November 2021, acknowledging his inability to meet FAA standards.
He admitted to flying with passengers without a valid FAA pilot’s certificate between October 12, 2021, and September 20, 2022.
Investigators from the U.S. Department of Transportation Office of Inspector General, FAA, and Salisbury Township Police Department worked on the case, which was prosecuted by Assistant United States Attorney Robert Schopf and Special Assistant United States Attorney Marie Miller.
What we don’t know:
Authorities have not released further details about the circumstances leading up to the crash.
The Source: Information from the U.S. Attorney’s Office, Eastern District of Pennsylvania.
-
Detroit, MI22 minutes agoI-94 ramp closures, I-96 shutdown expected to snarl travelers flying out of DTW this weekend
-
San Francisco, CA30 minutes agoSF Castro remembers victims of Orlando nightclub shooting 10 years later
-
Dallas, TX37 minutes agoDallas Schedules Additional Mosquito Control Spraying This Weekend
-
Miami, FL40 minutes agoMiami International Airport unveils $14 billion investment in major makeover ahead of World Cup
-
Boston, MA45 minutes agoKennedy says Boston 'may have to pivot' if improvement doesn't come soon
-
Denver, CO52 minutes agoE-bike cyclist dies after crash in Denver’s Elyria Swansea neighborhood
-
Seattle, WA55 minutes agoVIDEO: West Seattle High School celebrates student-athletes at big College Signing Day ceremony
-
San Diego, CA1 hour agoGriffin Canning lets game get away early as Padres start trip with loss to Orioles