Protect IoT Devices and the FTC Rewards You with $25,000

Do you have an idea capable for improving the security of Internet of Things (IoT) devices? By sending it to the Federal Trade Commission (FTC) you can win up to $25,000! As FTC’s chairwoman, Edith Ramirez, stated during the Consumer Electronic Show (CES) 2017, the industry still needs a security legislation that provides the appropriate security standards, especially for IoT products. The FTC is already known for constantly promoting consumer protection on the highest level, alongside the elimination of disloyal business practices. Thus, it’s not surprising that the agency is taking action by organizing the IoT Home Inspector Challenge, which rewards the best inventor who comes up with a technical solution that helps eliminate as much IoT trouble as possible.

Why the hurry, you may ask. Truth is, a good solution is much needed (and sadly, it’s already late), as attackers can find even the slightest flaw in home networks with very little effort and can easily get access thereto, using those to their own devious needs. Furthermore, if we consider the recurring trend involving IoT devices and their growing numbers (estimates show that there will be approximately 20.8 billion connected devices by 2020), this contest may be one of the best short-time solutions.