The team behind Chain of Things (CoT), a blockchain-enhancing Internet of Things (IoT) initiative, had a chance to chat with David Sønstebø, the CEO of Iota.
Iota is a decentralized micro-transactions cryptocurrency developed specifically for the IoT ecosystem. The currency is built on top of a new and novel innovation called ‘Tangle’, instead of a regular blockchain, which remains extremely lightweight and efficient in the face of scalability issues that affect other platforms.
CoT: How critical is the issue of security today with regards to IOT? I mean we hear about hacks regularly but how would you grade security amongst the list of issues affecting IOT
Sønstebø: The importance of security in IoT can not be overstated. When you look at the big picture of how IoT increasingly permeate our personal lives and the very infrastructure of business and society itself it is quite daunting to think of the repercussions of failing to take security into account while engineering the technology that this ever-growing ecosystem emerges from.
One thing is obvious: privacy breaches and identity theft has never been easier. Through virtually all forms of media each and every one of us is generating vast amounts of data and meta-data, some which we choose to share on social media and some we want to keep private. Think for instance of near-future wearables that will be able to measure your sweat and eventually blood content in real time, most would not want insurance companies or literally anyone but their healthcare professionals have access to this data.
READ MORE OF THE INTERVIEW AT CHAINOFTHINGS.COM