According to a report by IOT Analytics, there were over 17 billion connected devices around the world, and 7 billion of them were specifically Internet of Things (IoT) devices in August 2018. To put that into perspective, the world’s population currently hovers at around 7.53 billion people.
The number of IoT devices is forecast to grow to 18 billion devices in 2022, which means that numerically, we’re outnumbered. This prediction means that a majority of homes in the United States will have some sort of smart, connected device, collecting diagnostic feedback and analyzing usage patterns.
As the late and great Uncle Ben once said to Spiderman, “with great power, comes great responsibility.”
The rapid scale of IoT devices provides creators and data aggregators a data goldmine to work with, and checking this great power with responsibility isn’t in their commercial best interests.
Privacy concerns circling the IoT industry have given many decentralized, blockchain, and cryptocurrency startups like IOTA and IoTeX some…