How IoT Disrupts Traditional Business Models — Startups & Venture Capital — Medium
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IoT also requires a new paradigm in IT security. IoT is not only about sensors and accessing data. It is also about controlling devices remotely. Turning off brakes on a car is the perfect remote assassination. Turning off the cooling system at a power plant will cause considerable damage, probably even casualties.
Besides the danger to human lives, the economic impact will be huge. Just think about liability issues and extortion schemes. Hacking the Philips dishwasher and flooding the apartment is easy. Who´s fault is it? Philips? The WiFi chip provider? The SmartHomes automation SW? The Telco providing the connection? The landlord? The installation technician? Who will accept the liability, and what will they be willing to pay for not having all apartments flooded?
IoT suppliers must grow up ASAP and build in security and privacy from the start, not sprinkling it on top at the end of the project, as most do today.