From IoT Evolution:

The growth of the IoT holds promise for innumerable fields. However, it also raises a bevy of security concerns and the regulators have not adequately kept pace, according to a new policy study by R Street Tech Policy Fellow Anne Hobson.

“Because of the nature of network effects, internet-of-things devices present a unique problem to the internet as a whole,” wrote Hobson. “When devices are connected, one device’s vulnerability becomes a problem for the entire network. This is not a new threat, as networked devices have been around since the 1960s. However, the scale of interconnection among today’s devices magnifies the consequences of insecurity.”

Addressing these risks could entail a variety of approaches, including incentives to provide consumers with information about the cybersecurity of products they purchase and a more robust market for cyber insurance.

 

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