IoT, Cybersecurity is a Public Safety Concern

The IoT market is growing rapidly as more devices and things are becoming connected to the internet.  This network of devices is called the “Internet of Things”, IoT.  Experts are predicting that more than 80 Billion devices or things will be connected to the internet by 2025.  When we think of connected devices, we typically think of mobile phones, printers or security cameras and generally not household appliances such as fridges, doorbells and vacuum cleaners or even motor vehicles, trucks and ships.

 

 

The “Internet of Things” is bigger than we can imagine and will touch our everyday lives more and more.  Cybersecurity is key to keeping institutions, businesses, and individuals safe from intrusion.

 

In a recent article by Forbes states – ‘Every 40 seconds a business falls victim to a ransomware attack. This billion-dollar industry is exploding, with attacks growing at a yearly rate of 350%. And by 2021, cybercrime will cost the world more than $6 trillion annually, according to Cybersecurity Ventures’ 2016 Cybercrime Report. The epidemic is sweeping across the globe, and just when we think we might be gaining ground on our digital adversaries, a new, more powerful and complex attack is launched.’  Click here

 

Cybersecurity of IoT is a Public Safety Concern!

 

 

Taken from Gartner’s Top Strategic predictions for 2018 and Beyond:-

  1. IoT in Everything

    By 2020, IoT technology will be in 95% of electronics for new product designs.
    With the technology evolution surrounding the IoT, it will become increasingly possible to add IoT features to a product at minimal cost. While security challenges need to be sorted, suppliers should begin to think about how to implement this technology, toward which consumers will soon gravitate, into every electronics-enabled product.

  2. Assume IoT Security Vulnerabilities

    Through 2022, half of all security budgets for IoT will go to fault remediation, recalls and safety failures rather than protection.
    Due to challenges in determining security risks and exposure for IoT, current budgets for security spend is minimal. However, the scale of IoT into various markets will outpace support systems, resulting in a need for recalls for devices that cannot be patched.  
    Click here to read full article

 

 

With the rapid escalation of IoT devices and things, and the urgent need for cybersecurity, a cryptocurrency called EOT, “Encryption of Things” was developed.  Cryptography is being used for encryption purposes in physical devices and applications connected to the internet, these products are “EOT Enabled“.

 

For example, the world’s first blockchain phone, BitVault®, uses EOT for transactions such as secure cryptocurrency banking, secure messaging, secure calling, secure document transfer and secure media vault.  Further products are available that also use EOT for encryption and security.  Recently, Embedded Vault was launched – this is the most secure cryptocurrency software wallet that can turn any computer into a secure hardware device.  Both products described use a revolutionary concept called “Dynamic Key Creation” which means that private keys are NEVER stored anywhere on a device or server.

 

 

As EOT is an open source cryptocurrency, entrepreneurs and businesses are able to encrypt their products using cryptography.   Read the EOT Business Case here.

 

As EOT is an open source cryptocurrency, entrepreneurs and businesses are able to encrypt their products using cryptography.   Read the EOT Business Case here.

 

As can be deduced, EOT is not just a coin, it is a utility coin with a very strong use case.  EOT has a two-fold process:  Firstly, cryptography for encryption and validation of data, and secondly as a cryptocurrency (monetary) with a very fast payment system.  Learn more about EOT here – Frequently Asked Questions

Cybersecurity risks are higher than they have ever been and will most definitely get even higher in the years ahead, in other words, IoT needs EOT.

 

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Introducing you to the Embedded Vault

Turn your computer into a secure, encrypted hardware device

Download Embedded Vault here

 

 

 

What is EOT – Encryption of Things?