The Intelligence of Things (IoT) has become a fixture of everyday life, with more than 14 billion connected devices expected to be in use by the end of 2019. However, as IoT continues to proliferate in more industries and use cases, concerns about data privacy have quickly followed, with consumers and lawmakers raising concerns about attacks from bad actors.
In the April Intelligence of Things Tracker™, PYMNTS explores the latest security efforts from providers to crack down on fraud, and the emerging use cases where IoT tech can be applied — if consumers are willing to give it a chance.
Developments from Around the IoT World
Recently, some developers in the IoT space have been exploring the use of blockchain technology to secure connected devices, and bring transparency to transactions and data collection. To aid in blockchain implementation, Nevada-based company Filament recently released the Blocklet Foundation Kit, which provides IoT developers and programmers with hands-on experience in developing blockchain systems.
Meanwhile, the U.S. Congress has unveiled new legislation to meet the growing security concerns around IoT, by introducing a bill that mandates a continually updated list of best security practices for government-issued IoT devices. Another recently introduced piece of legislation aims to protect individuals by regulating facial-recognition cameras.
While security concerns remain, the IoT market is continuing to expand. IoT-related revenue grew by 15 percent in 2018, according to an industry study. IoT connections — as a percentage of total mobile connections — have also grown significantly, increasing by approximately 30 percent over the last year.
For more on these and other IoT news items, download this month’s Tracker.
How Bonbouton’s Connected Insoles Track Health, While Keeping Data Secure
While IoT has become a valuable tool in the healthcare industry, customers have ample reason to be concerned about the safety of their personal information. According to Linh Le, founder and CEO of IoT healthcare company Bonbouton, which offers a connected shoe insole to help diabetic users track their foot health, simple data security isn’t the end of the story for the healthcare industry. There also needs to be a mutual trust between the company and the customer.
In the feature story, Le discussed how device manufacturers can help foster that trust, and the need for regulation to secure healthcare data and connected devices.
Find the rest of the feature story in the April IoT Tracker.
About the Tracker
The monthly Intelligence of Things Tracker™ highlights the companies leading the way in all aspects of IoT, including data, home, infrastructure, mobile, retail, transportation and wearable applications, among others. It tracks the latest industry developments, concerns, rollouts and regulations, as well as the top players making waves in an increasingly digital space.