The best thing about blockchain is that it is decentralized and there is no third party involved. You have given the correct VeChain example of IoT project based on Blockchain.

The use of Blockchain on IoTs will ensure improved data privacy. Individuals can be confident that they own their data and can only give access to it to whomever they want to. By doing this, users data is secured and much reliable.

I thing I want to ask is, the transactions are public anyone can see it how can it improve privacy if we use blockchain in IoT? Maybe I have less knowledge about this please share yours so I can get benefit from it.

By the way, nice publication. I hope you will win this contest :)