Isolating digital buses can help with a lot of different issues. One of the biggest issues is when you want to connect to a circuit that is part of a high-voltage project, e.g., a Tesla coil or even just vacuum tube systems like Nixies. This 4-channel digital isolator (3 out, 1 in) is a well-designed little board that also provides compatibility with both 3.3v and 5V systems.
Having an isolation barrier protects your low-voltage circuitry against transients and differing ground potentials, as well as protecting against high-voltage shorting to a signal pin. It’s much easier to replace an isolator chip than your expensive FPGA or SoC. This board is based around the TI ISOW7841, which is a great choice for this project. It is designed for a working isolation of 1000Vrms with transients of up to 7kV! There are other chips in this line that have differing numbers of in/out channels, as well as different working isolation voltages; they are mostly drop-in compatible (be sure to check the datasheet!).
These can also be used when connecting a USB logic analyzer to a high-voltage system. While you can unplug a laptop to get isolation, sometimes this isn’t feasible, and of course, PCs must be plugged in to work. You can easily damage circuitry if the ground potentials are different and there is no isolation barrier in place — so pick one of these up and keep it in the toolbox! You’ll be glad you have one when the time comes.