4: Use Cases of IOVO
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Two use cases for IOVO Technology
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[Intro] Decentralized Apps built on the IOVO Network after its launch, can provide many beneficial services. Let’s take a peak at two use cases for IOVO technology.
[USE CASE 001 - IOVOBanks]
Today’s Traditional bank accounts have failed; they charge hidden fees and generate an insignificant
amount of interest for customer cash deposits.
As a Decentralized Finance or DeFi vehicle, IOVOBanks puts you in charge. You determine a rate of interest, and earning period based on various market offers. For example, you can lend $1,000 for a period of 1 to 10 days, or for however long you wish to lend, earning a high interest return without the risk of losing your initial deposit. There are no bank fees, so you get to keep earning fully.
The entire process will be fully automated, anonymous, borderless, and algorithmically executed. Developers, Entrepreneurs, and creatives will be able to build DeFi applications on the IOVO network for users like you.
[USE CASE 002 – IOVOAnalytics]
In the Age of Information, human data is bought and sold between researchers and database publishers.
IOVOAnalytics will transform this process, bringing researchers and organizations into direct contact
with data and its owners. For example, If a researcher conducts an investigation on a recent viral infection outbreak, or an organization wants to investigate its global culture and team, information will need to be gathered from public and private sources. With IOVOAnalytics, researchers can convert their allocated budget into Synesis and promptly search the IOVOdatabase for insights and unstructured data of simple or complex analysis, rather than forfeiting a large portion of the budget to 3rd party suppliers. Data owners on the IOVOnetwork will have full control over the data they share. For access to their personal data, data owners will be paid in Synesis, which will be distributed directly and proportionally to their contribution to the research.
[Closure]
IOVO Technology will unleash new possibilities for DApp developers when its mainnet is launched. Join us.
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