Establishes central depository databases for governmental real property transaction records and data

Bill A 5585 requires state and county governments to create centralized digital databases for governmental real property records using blockchain technology. It mandates storing records on a "federated blockchain" with tokenization and digitalization to ensure data security, immutability, and accessibility. The system must be "redundant, permissioned, and secure," providing access to state agencies, local municipalities, and taxpayers. This applies specifically to government-owned property records, not private real estate transactions.