Oxidation Potential, otherwise reffered to as redox potential, is the measurement of the tendancy of a chemical species to acquire electrons, ane be reduced. Oxidation Potential is measured as a voltage. Greater oxidation potential indicates a greater tendancy to be reduced, and thereby create an electron exchange with other chemicla species.
Ozone has one of the highest oxidation potentials, lower only than flruorine atom, oxygen atom, and hydroxyl radical. Some of the reactions of ozone create the oxygen atom and hydroxyl radical to create an even higher oxidation potential than ozone alone.
Because of the high oxidation potetnail the oxygen molecule has a high capacity to react with many compounds not easiy oxidized by other chemicals. This potential is especially important reactions with some inorganic species such as FE+2 and I-. However, in many cases there is no explicit electron transfer, but rather an oxygen transfer from the ozone molecule to the other compound.
Example of ion exchange oxidation of ozone and iron:
Fe+2 + O3 = FE+3 + O3-
Example of oxygen atom exchange oxidation of ozone and iron:
2Fe2+ + O3 + H2 O → 2Fe3+ + O2 + 2OH-
Both reactions can occur with organic and inorganic compounds. This is just one simple example of ozone oxication reactions.