Future of the Internet of things: Innovative funding at the heart of IoT

Written by Jessie Duncan on 26 November 2015 in Feature
Feature

Societal Impact of IoT potentially 'transformational' conference told

digital

The impact of the internet of things (IoT) on consumers and wider society was the topic of two keynote speeches at a conference in Brussels on Thursday

Frederic Donck, the regional director for Europe of Information Society (ISOC), an organisation that aims to maintain the internet as an open platform, focused on some of the key questions that IoT poses to internet security.

Donck called for a holistic and multi-stakeholder approach to tackling the security challenges that IoT poses saying, "The internet is so important, not one stakeholder can manage it".

He outlined some of the possible impacts of IoT on consumers' security and privacy as well as possible regulatory changes that could have an impact on the manufacturers of devices using IoT technology.

“We need a new way to consider risk and security”, he said. “It isn't just about inward risk to my device, but also outward risk and the fact that my device may be used as an entry point”.

One impact on regulation could be that manufacturers are held responsible for the level of security of a device, he said. This would be along the lines of a 'Polluter Pays Principle', he added.

Donck closed by encouraging participants to refer to the recent Internet Society report which explores the issues in more detail. “There are so many challenges” he said “and collaboration is the only way”.

Jacqui Taylor the CEO of FlyingBinery, a web science company based in the UK said it approached the IoT as a way of enabling societal change through citizen participation and a new trust and privacy model.

“Our focus is on the societal impact of IoT and citizens' curation of that change” she said.

She highlighted to conference participants several different policy applications of IoT from reforming national health Systems to education policy. “IoT is transformational across many sectors”, she said.

Speaking about a new initiative around Smart Cities Taylor described data as an “asset” that can be used to improve the lives of a city.

Innovative funding models are also at the heart of IoT, she said, describing a recent collaboration with Hollywood investors that aims to do “game-changing” work in the health sector in the US.

The conference was organised by the Digital Enlightenment Forum, Huawei and The Parliament Magazine.

About the author

Jessie Duncan is a freelance writer

Interested in this content?

Sign up to our free daily email bulletins.

 

Share this page

Tags

Categories

Related Articles

Andrus Ansip Andrus Ansip: EU digital single market could generate €415bn a year
7 February 2017

Andrus Ansip talks 5G race, the potential of the data economy and why he believes his copyright proposals will help both consumers and creators.

PM 448 Issue 448 | 06 February 2017
6 February 2017

Andrus Ansip interview, EU Budget Financing, Copyright, Mining Waste Directive, Trans-Fats, Audiovisual Media Services Directive, EU-Mercosur,  5 questions with Eva Kaili and more...

AI_Robotics MEPs warned of impact of robots on employment
8 February 2017

A parliamentary hearing was told there is growing concern about the impact of automation on employment.

Related Partner Content

Daniel Pataki Europe must seize the opportunity and accelerate towards 5G leadership
29 June 2016

Chance to position Europe at the forefront of global digital economy, says GSMA's Daniel Pataki.

Ryan Ding EU and China have a leading role to play in tomorrow's digital economy
14 October 2016

China and Europe must work together toward a single 5G standard, writes Ryan Ding.