The Internet of Things, IoT, is a very powerful technology that enables real-time interaction between objects no matter the distance. It is a network that connects things with people, subsequently enabling easier interaction with objects. IoT is a type of technology that can be implemented in our everyday lives. The impact of IoT is so massive that it has the potential to make our lives very easy.
What Spheres of Life can IoT Impact?
• Business
IoT can create an efficient work environment; it can streamline productivity, cut back on costs, monitor the entire company from within, and a lot more.
• Inventory
It can be used for tracking and management of inventory as well as various tedious tasks surrounding the field. It is a time-effective solution that has the potential to fully automate entire warehouses and do wonders for companies, eliminating the need for manual upkeep.
• Data Sharing
One of the key elements that IoT can help is the way we handle and share data. Data sharing has become essential in any business, and IoT devices can help track the patterns of interaction between the devices and consumers. This subsequently helps businesses understand the way consumers use data and it can be used to further impact the growth of a business.
Security is the Biggest Challenge Facing IoT Growth
IoT might be great, but serious issues are surrounding it. One of the biggest one, that prevents the growth of IoT, is security. With the ever-present security threats facing businesses, IoT is not really safe at the moment if specifically targeted. With all that said, let’s understand the biggest security issues facing IoT.
• Data Integrity
According to moabi.com, an IoT firmware security software that deals with the security problems facing IoT, billions of devices are connected through IoT. A single data point can compromise the entire data integrity because these devices are shared back and forth to the main servers. In order for data integrity to be preserved, decentralized distributed ledgers and digital signatures must be implemented to deal with the problem and ensure overall integrity.
• Encryption Capabilities
A continuous process in IoT is data encryption and decryption. However, IoT networks still lack the capability to process both. One way to deal with this specific issue is to employ firewalls and separate the devices into separate operating networks.
• Privacy Issues
Yet another security issue that IoT faces is the exchange of data between platforms, devices, and consumers. Smart devices connected through the IoT gather data to improve efficiency and experience, decision making, providing better security, etc. Privacy issues in IoT can be tackled if devices and platforms are completely secured and safeguarded.
• Common Framework
Possibly the biggest issue facing IoT is the absence of a common framework. This problem forces manufacturers to manage security and privacy on their own, which can be very difficult, to say the least. A common standardized framework must be implemented to that individuals can be collectively utilized through a reusable code. This way, an expandable manner can be achieved where security and privacy will be managed through a decentralized point protected by that code.
Nina Smith 
Nicola Holder