Security challenges of the internet of things

Internet of things (furthermore IoT) by definition refers to a networked interconnection of devices in everyday use that are often equipped with ubiquitous intelligence. It is based on processing of large quantities of data in order to provide useful information/service and enables an efficient regulatory policy in the area of IoT. One of the key challenges for the realization of the IoT includes security challenges, especially in the area of privacy and confidentiality among management of heterogeneities and limitations of network capacities. Those challenges will be based on information security management systems as well as on legal foundations. When considering the legal framework of security and privacy of the IoT, it has to be determined which model of regulation should be applied. Thereby, no traditional government regulation is actually appropriate for a global system such as IoT. The most important foundation consequently will be the regulatory foundations of European union (on the territory of EU) and, consequently building the model of self-regulation based partly on state and mostly on law international agreements which are to be considered as tools to govern the IoT. This paper gives an insight into the most important security challenges related to implementation of IoT and building appropriate regulatory framework. Adoption of the regulatory framework is crucial for the development of IoT services due to adequate legal security companies will get.