Bergen County has partnered with real estate blockchain platform Balcony to tokenize $240 billion worth of property using the Avalanche blockchain. This landmark deal, announced on May 28th, sees the tokenization of 370,000 deeds, marking the largest blockchain-based deed tokenization project in US history. The initiative is expected to significantly streamline real estate management processes by reducing processing times by over 90%, while also mitigating fraud risks and administrative errors. The deal was supported by an Avalanche-focused venture capital fund, Blizzard, further highlighting the technology’s potential for government and public sector applications.