The company surveyed 950 IT and business decision makers globally to better understand the current state of IoT security.
Gemalto found that companies are calling on the government to intervene with 79 percent asking for more robust guidelines on IoT security and 59 per cent seeking clarification on who exactly is responsible for protecting IoT.
Although many governments have enacted or announced the introduction of regulations specific to IoT security, most businesses (95 percent) believe there should be uniform regulations in place and consumers agree with 95 percent expecting IoT devices to be governed by security regulations.
Blockchain as an IoT security tool
Gemalto's CTO of Data Protection, Jason Hart offered further insight on the current state of IoT security, saying:
“Given the increase in the number of IoT-enabled devices, it’s extremely worrying to see that businesses still can’t detect if they have been breached. With no consistent regulation guiding the industry, it’s no surprise the threats – and, in turn, vulnerability of businesses – are increasing. This will only continue unless governments step in now to help industry avoid losing control.”
As the industry awaits further regulation, businesses are seeking ways to address the issue themselves with blockchain emerging as a potential technology.
Blockchain adoption has doubled from nine percent to nineteen percent over the last 12 months and a quarter (23 percent) of respondents believe that it would be an ideal solution to use for securing IoT devices. Surprisingly, 91 percent of businesses that do not currently use the technology are likely to consider it in the future.
Hart explained that blockchain is just one piece of the puzzle when it comes to securing IoT, saying:
“Businesses are clearly feeling the pressure of protecting the growing amount of data they collect and store. But while it’s positive they are attempting to address that by investing in more security, such as blockchain, they need direct guidance to ensure they’re not leaving themselves exposed. In order to get this, businesses need to be putting more pressure on the government to act, as it is them that will be hit if they suffer a breach.”
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