Consumer Empowerment in The Internet of Things: A Silent Unfolding of a 'New Normal' Where Code Trumps Rights?

Abstract

The Internet of Things (IoT) is already here, estimated to encompass just short of 30 billion connected devices by 2020. These devices are made up of a physical object; embedded processing, actuators, sensors; and connectivity. As processing gets cheaper and data communication pervasive, almost any device could be as powerful as the most powerful computer. This is transforming the product into a conduit to services with value shifting from the product to the services the product represents. It is a shift towards an “Everything-as-a-Service” world, where products are not only service avatars but treated as upgradeable computers. These developments rewire the commerce value chain into intricate ecosystems with multiple stakeholders where power can be asserted through power over standards, technology, networks and code.