There are pros and cons to the different approaches, but one principle should trump them all: FULL DISCLOSURE. I as a buyer (consumer) will not enter a purchase contract with...
Continue Reading a seller unless the following is disclosed: (1) for how long can I expect the seller to update the software on the IoT device? I do not need to add to the pile of cyberjunk and operating an unmaintained IoT device is a security risk. Best practice manufacturers will offer a reasonable support horizon plus open source the code so that buyers can keep maintaining the devices themselves if they so wish. I am OK with both the proprietary and the open source model, though I will prefer the open source because it gives me more control on my property. (2) with whom is the device communicating? what does the device communicate? can communication be disabled? how long is the communicated data retained and what is done with it? I want to make a deliberate, informed decision trading off some of my privacy in exchange for the benefit provided by the device. Again, best practice manufacturers will offer opt outs and full disclosure, while others will try to monetize consumers behind their backs. Guess who will get my business? For now, I let others buy into the IoT frenzy, until the smart manufacturer will come along, or until the industry is properly regulated.