Enjoy the report! “Thanks to 5G, IoT as a technology has evolved from simple monitoring and sensing, to being able to take active control in real-time,” said Justin Nelson, head of IoT … Australia and the UK are just two of the countries looking to regulate the chaotic Internet of Things ecosystems. IoT For All is a leading technology media platform dedicated to providing the highest-quality, unbiased content, resources, and news centered on … Our regulation prediction is based on extensive research in the area. “Global Process Safety Regulation with Incidents and Lesson Learned (US, UK, China, India and Singapore)” Date: 02 October, 2018 Ms. Annie Nguyen –Director of PSRG Asia Pacific Pte. There is strong momentum for the prevalence of IoT solution implementation across the world where several countries started to embark on IoT projects Dr. Carlo Velten CEO, Crisp Research Dear Reader, the Internet of Things (IoT) is no longer just a hot topic for European companies. A year for avatars 8. 10724. The ACMA has detailed its current and planned IoT research initiatives to look at the impact of IoT on media and communications, and determine what regulatory responses might be needed. Regulation can promote best practices and guiding principles on the development and deployment of IoT devices even on a global scale. Similarly, IoT has helped 74% of IoT adopters in Singapore decrease their operational cost by nearly a third. Regulatory-wide, Singapore has been one of the most active and supportive jurisdictions in Asia in this regard. IoT vendors and service providers in the German market and evaluates their strengths and weaknesses. Hyperledger and IoT are the promising digital technologies to transform industries. At the same time, however, we will also see more regulators wanting to adopt a nurturing approach to IoT and M2M, as illustrated by the approaches of regulatory bodies in India, Singapore, the UK and many others. Singapore’s Deputy Prime Minister Heng Swee Keat announced Singapore’s Safer Cyberspace Masterplan 2020 at the opening ceremony of the virtual Singapore International Cyber Week today. A good example for this phenomenon is the well-known botnet malware 'Mirai' which has been keeping the IoT industry busy for the last three years at minimum. All regulations and analysis are up to date as of September 2018. Singapore Smart City - Singapore seems to live in 2119, learn how this cutting edge smart city grows the smart nation. Mobile phone as the gateway for IoT 7. This was nicely demonstrated in Singapore with an attack on SingHealth, which exposed the data of 1.5 million patients—including DNA repositories. FutureIoT is dedicated to individuals, as well as public and private organizations looking to tap the potential of IoT to transform the way we live, work and do business. Ten predictions for M2M & IoT in 2015 1. Our aim is to hold in person events again in the first quarter of 2021, with our annual conference series of 2020 concluding with SMN Singapore on 20 January, 2021. Regulation of IoT will remain fragmented because the level of service regulation varies considerably across member states. Breakthroughs in smart city service deployments 5. Aligning with data protection regulations The IoT is a network of devices and other entities that primarily deals with the receiving and sharing of data in order to perform its automated tasks. Companies will have to comply with Singapore’s Personal Data Protection Act (2012),including those which are collecting personal data via IoT. When Disney+ launches on February 23rd, StarHub’s TV, mobile and broadband customers will be able to watch all six Disney content brands on the streaming service through their TVs or on-the-go over StarHub 5G – Singapore’s widest 5G network with over 70 per cent population coverage. The relationship with the government is also an important factor in the development of Singapore's IoT capabilities, with sensible approaches being taken, rather than being hesitant or gung ho with their implementation. It is necessary to include privacy and IoT in the same discussion. The smart nation: Singapore’s masterplan In October, two departments within Singapore’s Government merged to form the IMDA. The need to relax existing rules has been recognised in both Japan and Korea. Introduction. IoT Cybersecurity: Regulation Ready ... Health Products Act (Singapore) [ref 33] S$50,000 (individuals) S$100,000 (corporations) Table 1 Financial Penalties More M&A 4. Secure by Design - UK-Singapore IoT Statement Joint Statement on cooperation between Singapore and the United Kingdom on the Internet of Things. Protecting personal data to enhance consumer trust in IoT – regulation and public education will be key to safeguard consumer interest. Its poor security track […] "IoT in the business space comes with security risks that each organization needs to assess for themselves as these would depend on the nature of the business, scale, and criticality of the IoT functionalities, the IoT deployment model, and so on," said Singapore Cybersecurity Consortium Executive Director Vivy Suhendra at the recent IoTAsia Summit in Singapore. The Infocomm Media Development Authority of Singapore ("IMDA") published the IoT Cyber Security Guide ("IoT Guide") on 13 March 2020. London, March 19, 2018 – Telit, a global enabler of the Internet of Things (IoT), today announced that its NE866B1-E1 NB-IoT module has received the industry’s first certification under Singapore’s new IMDA TS-IoT regulation. 84% of adopters say they have more confidence in IoT … Ltd. JTC Summit 8 Jurong Town Hall road #24-05 609434 SINGAPORE Tel: +65 6818 0967 - Fax: +65 6818 0801 Email: psrg-asiapacific@psrg.com Web: www.psrg.com While digital technologies promise business processes transformations, the pace of the technology adoption is varied across industries. Over a third (34%) of businesses are now using IoT. With the global market data provided in the report, it has become easy to gain global perspective for the international business. It’s expected that 87% of healthcare organizations will incorporate IoT devices in some form into their operations by 2019. The revised TRM guidelines introduces MAS’s higher expectations for Financial Institutions’ key technology and cyber risk management principles and best practices. National IoT Strategic Roadmap: A Summary A. Various areas of law are affected. Enterprises will get cracking in IoT 2. this report, national or regional level IoT-specific regulation has yet to be enacted. Governmental regulation is argued by some to be necessary to secure IoT devices and the wider Internet – as market incentives to secure IoT devices is insufficient. ... 2020 14:04 Stuart Corner. A crunch on regulation 9. 11360. In the context of the IoT this service may include a consumer IoT device with a The Internet of Things (IoT) (as defined in the IoT Policy (as defined below)) means a global infrastructure for the information society, enabling advanced services by interconnecting (physical and virtual) things based on existing and evolving interoperable information and … They’re feeling more confident, scaling up and doing more with it. / Archives for IoT regulation. In line with current local restrictions and guidelines, the physical event taking place in Singapore is for local attendees only and will be limited to 50 invited guests. 1 See the Annex B Regulation in Action. It has become evident to a number of governments that banking and financial services will keep on moving towards greater digitalization. IoT triggers manifold regulatory questions. ... AI Regulation Limits: The Cluster. An example of this is the regulation of IoT services that enable some form of interpersonal communications services only as an ancillary feature. The status quo of statutory regulation. More productised offerings 3. GLOBAL MARKET POTENTIAL IoT opportunities are enormous with a global economic value projection ranging from US$1.9 trillion to US$7.1 trillion by 2020. Current and planned regulation may be too stringent for IoT, and could threaten innovation. IoT Healthcare Market analysis report is a comprehensive background analysis of the industry, which includes an assessment of the parental market. Fintech regulation in Asia. 2 IoT regulation is a rapidly evolving space at this time. A 15-year lifetime for an IoT device will not be uncommon. Major OS vendors disrupt the connected car market 6. Building on the 2016 Singapore Cybersecurity Strategy*, the Masterplan outlines a blueprint for the creation of a “safer and more secure cyberspace in Singapore”, according to the government … This is why we launched our consultation on regulation to secure consumer IoT in May 2019 to identify the best options to increase the cyber security baseline for consumer IoT. FutureIoT is the dedicated media that provides the single source of truth about IoT, the technology, its application and regulation… Singapore's IoT market is projected to grow significantly over the coming years as the industry expands at a CAGR of 20% between 2018–2023, a growth mostly driven by the Smart Nation Project, a major government initiative, according to a report from Research and Markets. In fact, the development of networked StarHub is the official distributor of Disney+ in Singapore, with its mobile, TV and broadband offerings, having signed an exclusive agreement with The Walt Disney Company. The Monetary Authority of Singapore (MAS) has recently revised its Technology Risk Management Guidelines 2021 after feedback from a 2019 public consultation and engaging with cyber security experts. IoT requires regulatory certainty due to the long-term nature of investments. The IoT Guide provides guidance to enterprise users and vendors on the deployment of IoT technology, and has been developed following public consultation in the first quarter of 2019. How Recruiters are Using Big Data to Find the Best Hires. This is our sixth Internet of Things (IoT) Barometer.Since the last edition, we’ve seen a significant acceleration in adoption. However, governments and regulatory bodies – such as in the EU, US, UK, and Australia – are known to be developing or considering new legislation specific to the IoT. [217] [192] [193] It was found that due to the nature of most of the IoT development boards, they generate predictable and weak keys which make it easy to be utilized by MiTM attack. Singapore has joined the countries that elaborate on a cybersecurity labeling scheme allowing users to quickly assess a product’s security before buying it, according to the Cyber Security Agency of Singapore (CSA). This will enable the completion of the government’s 2025 masterplan: to create a competitive infocomm media ecosystem that enables and complements the countries smart nation ambition Hyperledger enables industries to optimize supply chain, increase transparency and new products/markets, and streamline settlement.
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