How have you fared so far globally and what industry verticals do you cover?
Our biggest and ideal client is the government sector as it is seen as a trusted entity issuing policy decisions around technologies like IoT. Once a citizen possesses a national identity that complies with the technology the value chain below in the ecosystem will follow soon. We realize banking is a good vertical though it's a bit harder to crack as they need different technology than what we offer due to their legacy systems. But we have customized solutions for this segment. And of course smart city and smart community environment offer huge potential for us.
We are now in era of apps but the apps - as per various research companies - will disappear in the next six to ten years. We will deal with algorithms. The world is still not asking the question on how to actually identify people and objects through these algorithms. That's why we made Hive One ID because the networks need ambient type identity instantly as people walk into the room.
IoT is fast becoming Internet of Threats. How have you baked-in security into your technology?
Our basic identity product has multiple sensors attached to it. It can be used to monitor products as well. With our identity piece, we have integrated a whole new way of transmitting data in a proprietary format from device to reader. The reason is not only security so that you can you can't sniff through the air but also to optimize the communication.
Secondly, each device itself has a unique ID developed in the background. It creates an e-signature or it works like a counter. We can - if needed - recreate a new device in that place but it will not be the same. This differentiating factor from a security standpoint with our technology is very important as that's where existing technologies fall flat.
The next level of security is the usage of that unique key to encrypt the data sent to the database. Unless you can decrypt or understand this device, you can't predict the next transaction and one cannot encrypt the data.
What's your list of Dos and Don'ts for enterprises to looking to deploy IoT?
The key aspect is getting onto a common infrastructure. We see the companies using different things for different purposes as the stage is moving towards consolidation. Available technologies like Wi-Fi and bluetooth are a given. A common reader that works across the same infrastructure is the need of the hour and that's why Hive One has the same readers tracking and accessing people and objects.
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