In today’s world, business have changed with technological advancement. Business have gone online and many organizations are evolving fast in a bid to catch up with technology needs. With Internet of Things (IoT), devices have capability to communicate and transfer data over the internet without human interference. Devices that are involved in Internet of Things collect data acts on them through use of various mechanisms such as sensors, communication devices and processors. It is being regarded as heart of today’s business because it brings together various business activities and scenarios with aim of making its operations simple. Through Internet of Things, businesses are conducting various activities in an efficient manner with aim of increasing business productivity. It helps organization reach more customers which in turn increases volume of sales. The key concepts in Internet of Thing are; communication and networking hardware, application design and development, data security over the internet, business operations intelligence and analysis and machine learning with artificial Intelligence. The more organizations values internet of thing, its security measures should not be forgone. There is need to make sure all operations are carried out in safe and secure business environment. Through Internet of Things, business should be done over a given platform which guarantees can monitor business operations, manage all online transactions as well as having control of all inter connected devices. Therefore, the need of having Internet of Things proofs worthy if all business transactions are efficient, effective, and verifiable and gives greater opportunity to maximize profit.
Internet of Things has brought up various technologies in to the market for purpose of facilitating business transaction. Many organizations which are adopting Internet of Things are employing technology such as Near field communication and Radio Frequency Identification (RFID), quick response codes and Optical tags which are used in QR code reading, phone cameras and in image processing techniques. The last technology in use by organizations is Bluetooth and low energy which is one of the latest technology to hit the industry [3]. Almost all latest version of smartphones have this feature to enable them to operate at even very low power state. With penetration of mobile networks in almost 90% of all people, it has brought in business broad range of interconnected devices which facilitates transaction of business in a more efficient and effective way. With development of new applications, new services are being offered online with an intent of making services delivery faster and cost effective [1]. The new wave of technology is moving so fast such that, it is now beyond the scope of computes and smartphones. It is being implemented in cars, houses, traffic lighting control and meters. Due to interconnection of various states of life, GSMA has gone ahead to nickname it as “connected life”. In this case, the scenario of sensor networks has been bought in to existence by micro electro-mechanical technology in relation to wireless communication mode. In sensors, electronic Information desk system was initially developed which made use of SMS to communicate to various platforms in business world. This system was designed in such a way that, it can carry on so many activities without human interaction taking place at any stage of processing information [5]. This implies that, it has capability to detect, process and take necessary action without human being interference.
In Singapore, Internet of Things has been put in use to understand the system of bus transportation. This is the only place in the world where Internet of things has been implemented in determining the arrival of buses and the number of passengers in every bus arrival [14]. In this case, there is three layered construction of network; the high voltage transmission line which is made up of wireless self-organized sensor network for transmission of data, optical fiber which is composed of overhead ground wire for high technology data transmission capability, general packet radio services for detecting the arrival of the bus at the station and compass satellite navigation system for motion detection in the buses. In addition to Singapore technology, Internet of Things is gaining its use in electronic display boards. Most of advertisements are being made through Internet of Things and is replacing manual advertisement with a high rate. Developers have come up with a micro-controller based message displays on electronic boards which captures, transmits and displays information in real time. The designed electronic board is used display message with a lot of flexibility to target users regardless of geographical location of the user [7]. To make Internet of Things sound realistic, display board do not work as a separate entity, it must liaise with global system for mobile communication network in order to transmit required data. This has displaced the need of being physically present to display messages manually to customers or be present with a computer system in order to display messages.
Similarly, Silicon Valley has been selected to get cellular network through implementing Internet of Things technological advancement in a bid to end network problem in the city. In Silicon Valley, current cellular mobile network experience a lot of traffic due to use of video streaming and video download which makes it difficult to communicate effectively. According to [3], with Internet of Things, things should be made into reality through its technological application. This shows clearly that, through use of Internet of Things, communication challenges would be eliminated in Silicon Valley through provision of large spectrum of megabytes network. Communication thought Internet of Things would be made easier and cost effective as this would push other network providers to come up with cheap network which will try to out compete newly established network coverage [12]. The Internet of Things network distribution would be able to cover thousands of kilometers as it will be supplied over the internet unlike other types of network. It is interesting to note an increase in startup businesses in the region with anticipation of Internet of Things network coverage. This is a clear indication of how Internet of Things comes up with many advantages to both local and international residents. The much anticipated network is expected to incorporate so many technologies in a bid to facilitate effective and efficient communication over the internet [8]. For this project to work effectively, various stakeholders would be involved so that all existing communication devices can be integrated into the network.
Internet of Things is growing with more devices being connected to the internet for business transaction. Increase in devices that are connecting online for business transactions means security threats are still increasing [4]. This presents us with nature of changing security threats which are posed in various businesses. Due to growing technological business transactions, cyber security threats such as hacking has been on increase and this makes Internet of Things operation difficult. With increase in various devices that can be hacked, it is important to put security of every device that is connected to the Internet of Things at bay. [13] Argues that, cyber criminals are all over and ready to sabotage information systems since many of the devices that are used in Internet of Things possess very critical information regarding individual daily lives. Mainly, Internet of Things involves business transactions which are done online through either MasterCard, PayPal or Visa Card. Exposing such information to Internet of Things exposes our business transactions to risk of being compromised by hackers while trying to siphon money from these payment modes. Similarly, there is an issue with update of products which are used in Internet of Things business operations [9]. Many manufacturers do not update their products which help business to connect online and facilitate Internet of Things transactions. This leaves consumers at risk of suffering more attacks because even if they try to protect their business from massive attacker by hackers, it is quite difficult to surface well due to nature of technology used in making subject devices. Lastly, Internet of Things is faced with problem of privacy and data protection. It has been difficult to protect personal data and mostly when it comes to selling and buying of good through use of Internet of Things [6]. Many organizations involved in online buying and selling forge the security of storing information online in safe custody. This exposes it customers into many security lapses such as money laundering from their accounts without customers notice. Data privacy is a big challenge because organizations have to work with other organizations for successful business operations. In process of carrying out such operations, some of the employees from either owns organization or competing firm decide to compromise subject platform with intent of personal gain or third party gain [10].
Hacking involves gaining access to organizational or individual data without required authentication and authorization rights. This problem is quite hectic on Internet of Things business operations. With IoT, cyber security and more so hacking presents a lot of challenge to business operations because many organizations and their customers loses a lot of money in the process [1]. To makes sure hackers do not benefit from any data obtained from organization, it is important to encrypt data such that, it is of no use to nay unauthorized user without required decryption keys. Such data encryption should be strong enough to protect data even when hackers are equipped with strong cracking technology and tools [11]. Encryption should be done right away from when data is being entered into the system to storage devices.
Conclusion
Internet of Things involves online business transaction and protection of sensitive data. It makes all business operations more efficient and effective when secure and safely implemented. Many organizations are bracing Internet of Things for their success but should not forgo cyber security threats that are associated with it. Hacking is the most challenging issue which ought to be worked on daily basis. To secure data effective, encryption would surface best. When hackers gain access to the system, data will be useless to the hacker because it is in unreadable form and technology used should be strong enough to decrypt without right decryption tools. If solution provided is implemented effectively, IoT would be a secure platform to carryout business transactions.
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