We have written in the past about all the money flowing into the Internet of Things and the projected revenue companies like Cisco are forecasting. We broke the news about Cisco acquiring IOE.com in stealth mode back in January and now Cisco is offering a prize for securing the Internet of Things.
Ellen Messmer wrote on NetworkWorld.com,
San Francisco — Cisco today kicked off a contest with $300,000 in prize money that challenges security experts around the world to put together ways to secure what’s now called the “Internet of Things,” the wide range of non-traditional computing devices used on the electric grid, in healthcare and many other industries. At the conclusion of his keynote address at the RSA Conference, Christopher Young, senior vice president for the security group at Cisco, announced what he called the “Internet of Things Security Grand Challenge.”
In my opinion this will be one of the most important areas for the Internet of Things to thrive, if this cannot be secured then the public should understand all the potential risks, in most cases they should probably disconnect. This is an area with a lot of money and a lot of hype being bandied about, but the crucial component is security. Consumers will bring about very vociferous protests if their connected homes turn against them.