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Cisco Throws a Challenge in its Bid to Secure IoT

By CIOReview | Wednesday, March 12, 2014

FREMONT, CA: Systems, machines, equipment, and devices connected to the internet create a significant need for security. With the increase in the number and variety of connected devices, the number of potential cyber threats also increase.

With this thought in mind, Cisco has launched the "Internet of Things Grand Security Challenge," a global, industry-wide program that brings security community together to address securing the Internet of Things. It is offering up to $300,000 worth of prizes. The concept aims at making devices, gadgets, appliances and transports all interconnected in the name of convenience and Big Data. Proposals will then be assessed for feasibility, scalability, performance, and ease-of-use; applicability to address multiple IoT verticals and programmers’ expertise and ability to feasibly create a successful outcome.

The company estimates that 50 billion devices and objects would be connected to the internet by 2020. More than 99 percent of things in the physical world remain unconnected till date. The growth and convergence of processes, data, and things on the internet will make networked connections more relevant and valuable than ever before, creating unprecedented opportunities for industries, businesses, and people. Cisco, which provides network security solutions, intrusion prevention systems, firewall, web security and cloud-based Internet intelligence for IoT, now wants to move a step further in combating cyberthreats in much faster and effective manner.