This is a very interesting subject, but the one thing I must always think about is privacy. Do the companies really have to get even more Information about us? The problem here is that we can definitely not trust the big companies cause they would do anything for getting more profit, even selling our data. The second aspect is security. There already was a case where pacemakers could be hacked cause they were connected to the internet. What if some politician had one of those, and he would get killed by a hacker using it? Those are the main issues we can ignore concerning the IoT.
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Indeed its a complex topic and great reply @lordrazor
On one hand you want to extend the internet to every possible device and get that information to a common staging area where any application can leverage other services to built helpful tools. On other hand, who is having access to the sensors in my kid´s room?
Encryption is a way to start, for example, AWS already does this on the MQTT socket established between a Gateway and their cloud but data governance is nowhere near to be found in most discussion.
I´ll try to expand on a post about this, but definitely its a tough dilemma being a developer on this space.