The unified terminologies include: interoperability between different ledger

technologies and other technologies, improved security and privacy, enabling

compatibility between tech and legal frameworks, and reduced implementation

cost.

Risk reductions

Risk reduction is enabled by removing barriers to entry (lack of standards may

be a barrier), reducing the risk of locking into non-standard approaches, aiding

the assessment of blockchain quality for service providers, and increasing trust

and reputation.

Other benefits

Included are other benefits such as innovation support, competition,

governance, growth and development, both cross-organization and cross-

border, an increase in understanding, potential use case references or

repository, an increase in adoption, and an increase in blockchain investment.

Use cases

The use cases include real estate sale/ purchase, voting in elections, identity

solutions, equity token offerings, marine insurance, crypto banking, FX

transactions and bilateral payments, food safety, repurchase agreements, stock

exchanges, tokenized ownership, licensing and ip, certificates, AdTech to

minimize the ad fraud, patient data, land registry, power grid and peer-to-peer

energy markets, peer-to-peer payments, automated devices, and digital

evidence.

Use cases of blockchain and IoT

Agriculture: One of the blockchain IoT use cases is offered by Pavo, which is

a new and smart farming approach to farmers that brings unparalleled

transparency. Pavo’s IoT hardware devices installed in farms collect

information that gets saved on the blockchain. Helping distributors, retailers,

and consumers to make informed decisions about buying a specific crop or

fooditem, the farming techniques can be enhanced by farmers looking at the

captured data. Pavo has transformed agriculture with blockchain and IoT in

this way.