Iot Security Quotes

The Internet of Things (IoT) devoid of comprehensive security management is tantamount to the Internet of Threats. Apply open collaborative innovation, systems thinking & zero-trust security models to design IoT ecosystems that generate and capture value in value chains of the Internet of Things.

In emerging technologies, security is the biggest threat, and common standards for communication and safety are improving, which means that risks will be minimised. We can only hope that man with this technology can actually stop the destruction of our planet, make the population healthier, and create a better future for all of us.

A CISO's job is to streamline, harmonize and propagate cybersecurity and cyber hygiene throughout the organizational IoT microcosm and staff

By letting the IoT devices into our everyday life, it is not like we entered the zoo, but we released the animals into our world.

I don’t care how secure you think your organization is, I’ll social engineer my way inside in less than 24 hours regardless of the sophistication of your IoT microcosm security. Whatever obstacles I run into exploiting your technical vulnerabilities will be made up for by exploiting the vulnerabilities in the cyber hygiene of your staff.

Most IoT devices that lack security by design simply pass the security responsibility to the consumer, thus, treating the customers as techno-crash test dummies. James Scott, Senior Fellow, Institute for Critical Infrastructure Technology

Table Of Contents Introduction The Problem With Contracts The Smart Solution Distinctive Properties What You Need to Know What Is A Smart Contract? Blockchain and Smart Contracts Vitalik Buterin On Smart Contracts Digital and Real-World Applications How Smart Contracts Work Smart Contracts' Historical Background A definition of Smart Contracts The promise What Do All Smart Contracts Have in Common? Elements Of Smart Contracts Characteristics of Smart Contracts Capabilities of Smart Contracts Life Cycle Of A Smart Contract Why Are Smart Contracts Important? How Do Smart Contracts Work? What Does Smart Contract Code Look Like In Practice? The Structure of a Smart Contract Interaction with Traditional Text Agreements Are Smart Contracts Enforceable? Challenges With the Widespread Adoption of Smart Contracts Non-Technical Parties: How Can They Negotiate, Draft, and Adjudicate Smart Contracts? Smart Contracts and the Reliance on “Off-chain” Resources What is the "Final" Agreement Reached by the Parties? The Automated Nature of Smart Contracts Are Smart Contracts Reversible? Smart Contract Modification and Termination The Difficulties of Integrating Specified Ambiguity Into Smart Contracts Do Smart Contracts Really Guarantee Payment? Allocation of Risk for Attacks and Failures Governing Law and Location Best Practices for Smart Contracts Types Of Smart Contracts A Technical Example of a Smart Contract Smart Contract Use-Cases Smart Contracts in Action Smart Contracts and Blockchains In the Automobile Industry Smart Contracts and Blockchains in Finance Smart Contracts and Blockchains In Governments Smart Contracts And Blockchains In Business Management Smart Contracts and Blockchains in Initial Coin Offerings (ICOs) Smart Contracts and Blockchains In Rights Management (Tokens) Smart Contracts And Blockchains In NFTs - Gaming Technology Smart Contracts and Blockchains in the Legal Industry Smart contracts and Blockchains in Real Estate Smart Contracts and Blockchains in Corporate Structures - Building DAOs Smart Contracts and Blockchains in Emerging Technology Smart Contracts and Blockchains In Insurance Companies Smart Contracts and Blockchains in Finance Smart Contracts And Blockchains In Powering DEFI Smart Contracts  and Blockchains In Healthcare Smart Contracts and Blockchains In Other Industries What Smart Contracts Can Give You How Are Smart Contracts Created? Make Your Very Own Smart Contract! Are Smart Contracts Secure?

But if IOTA lost the confidence of some of the most respected cryptographers in the blockchain community, it continued to generate enthusiasm among a variety of big-name enterprises. That’s perhaps because, quite apart from how badly or otherwise it developed and managed its cryptography, the IOTA team’s economic model is enticing. If its cryptographic flaws can be fixed, the tangle idea could in theory be far less taxing and expensive in terms of computing power than Bitcoin and Ethereum’s methods, which require every computer in their massive networks of validators to process and confirm the entire list of new transactions in each new block. German engineering and electronics giant Bosch has been running a range of experiments with IOTA, including one involving payments between self-driving trucks arranged in an energy-saving linear “platoon.” The idea is that the trucks at the back that are enjoying the benefits of the slipstream would pay IOTA tokens to those at the front to compensate them for bearing the bulk of energy costs in creating that slipstream. Meanwhile, IOTA and Bosch are both part of a consortium called the Trusted IoT Alliance that’s committed to building and securing a blockchain infrastructure for the industry. Other members include Foxconn, Cisco, BNY Mellon, and a slew of blockchain-based startups, such as supply-chain provider Skuchain and Ethereum research lab ConsenSys.

Even the U.S. government has shown its interest in this field, with the Department of Homeland Security awarding blockchain infrastructure builder Factom a $199,000 grant to develop an IoT security solution. It’s a small number by ICO fund-raising standards but a noteworthy vote of confidence in blockchain technology from a government agency. Factom’s model would create an identity log of data emitted by a device, including its unique identifier, its manufacturer, its update history, its known security issues, and its granted authorities. The idea is that if a device’s history of performance, permissions, and certification is recorded in an immutable ledger, hackers can’t alter the record to disguise a flaw they’ve exploited. It’s not clear how much oversight the U.S. government would have over the system. Context Labs in Cambridge, Massachusetts, is doing similar work to achieve what it calls “data veracity.” In various industries, it is pulling together consortia of interested parties to agree on open-data standards for APIs (application processing interfaces) that would allow parties to share data stamped with unique cryptographic hashes that provably identify the device and its owner.

The IoT market grows rapidly and it’s acceleration will continue in all major areas like Industrial Internet of Things; Digital Enterprise; Internet of Healthcare; Internet of Energy; Internet of Education; Digitalisation of global Supply Chains. Security concerns add to the IoT complexity. Strategically, to assure the system’s reliability & data / knowledge engineering, it is important to insure data integrity, availability, traceability, and privacy. A complex problem of digital transformation globally. The Internet of Things cybersecurity, therefore, is not a matter of device self-defence. What is needed is a systemic approach. Identify underlying patterns. Secure elements of a chain: from security of a device that creates, captures your data.. to the data storage.. to the back-end storage.. Create/ join IoT ecosystems, driven by protection with external monitoring, detection and reaction systems. It is a challenge - to secure systems.

Here’s a compelling quote from Scott Pezza of Blue Hill Research on the topic: If you currently sell products that collect some sort of data (or could be retrofitted to do so) and there is someone out in the world who would find that data valuable, IoT is a new revenue source for you. If you sell physical products that degrade or need to be serviced, IoT means you can offer remote monitoring services, or preventative maintenance services—new revenue streams. In the alternative, you can increase the attractiveness (and value) of those products by giving customers the ability to conduct that monitoring and maintenance themselves. If you sell services that could be expanded if you only had access to more data, it’s new money. And if you sell technology to help sense conditions, facilitate secure communications, conduct analysis, manage service provisioning and billing, or forecast and plan revenue—this market is going to need you.

Blockchain can be described as “a “write only” digital platform that records and verifies transactions”. Simply put, blockchain is the next step within database development. It can also be called Distributed Ledger Technology (DLT). As a distributed ledger, it is designed and built with the goal of securely storing millions of data within its platform, leveraging a series of architecture tweaks for it. A blockchain is then, nothing else than a database made up of rows, columns, and tables. What differentiates it from other databases, is its sophisticated encryption, that makes it safer, transparent, and more trustworthy. Blockchain technology uses cryptography and digital signatures to prove identity, authenticity, and enforce read/write access rights. All transactions within a block which is part of the blockchain are visible; so there is full transparency for every transaction. What is more, once an entry goes into a blockchain ledger, it cannot be (easily) altered or erased. There is no “central power” overseeing the ledger of transactions. Instead, blockchain technology enables a decentralised and distributed ledger where transactions are shared among a network of computers—in almost real time—rather than being stored on a central server with a central authority (like a bank) overseeing transactions. A blockchain platform is formed out of infinite blocks. The system was inspired by the way bitcoin was first designed when invented in 2008. Similarly to bitcoin, every time a block is made, it will attach itself to the blockchain carrying along a “hash”, or fingerprint from the previous block. These have an important function as they use cryptography to authenticate the source of the transaction.