IoT and regulation – striking the right balance

Abstract

The UK Government has made the welcome announcement that it will establish a new Internet of Things (IoT) code of practice – ‘Secure by Design’ – to increase the security of connected devices. 1 Understandably, this has sparked discussions about whether the code of practice is a precursor to more formal regulation of the IoT. Regulation is certainly one route that can be taken to resolve the serious security challenges that the IoT faces. However, caution should be exercised when pondering the regulation of IoT, as it could serve only to damage IoT innovation and dynamism, threatening the very market growth that it is driving. Regulation is certainly one route that can be taken to resolve the serious security challenges posed by the Internet of Things (IoT). The IoT network has huge potential for businesses to help support cost reduction, streamline operational processes and improve overall service delivery to customers. But the success of the IoT market has caused its security to become a growing concern. However, caution is needed when considering the regulation as it could damage innovation, argues Marco Hogewoning of RIPE NCC.