Cisco Offers $300K Bounty For Internet of Things (IOT) Security Apps
(Case in point is the now nearly legendary refrigerator hack. A refrigerator! Hacked!)
LG LFX31995ST smart fridge
(Note: There's no evidence that an LG fridge specifically was hacked)
Cisco’s Internet of Things Grand Security Challenge aims to address those security woes. The competition seeks submissions from anyone who can offer a solution that meets the following criteria:
-Feasibility, scalability, performance, and ease-of-use
-Applicability to address multiple IoT verticals (manufacturing, mass transportation, healthcare, oil and gas, smart grid, etc.)
-Technical maturity/viability of proposed approach
-Proposers’ expertise and ability to feasibly create a successful outcome
The company is giving out $300,000 in prize money to six recipients that will receive $50,000 to $75,000 each. The deadline for submissions is June 17, and winners will be announced this fall.
Here’s hoping this contest helps jumpstart a new wave of much-needed security.