2022-02-16 21:00News

Fluxus endorses Global Statement on Consumer IoT Security launched through the World Economic Forum

Fluxus is proud to endorse the Global Statement on Consumer IoT Security launched through the World Economic Forum’s Council on the Connected World and the Centre for Cybersecurity, with leaders from Consumers International, the Cybersecurity Tech Accord and I Am the Cavalry, representing more than 400 organizations globally. Other endorsers include Arcelik, Carnegie Mellon University, Center for Internet Security, Deloitte, Foundation for Consumer Rights, Google, Microsoft, NTT, Qualcomm Technologies, UK government’s Department for Digital, Culture, Media and Sport, World Enabled, among others. 

The group collaborated to recognize an emerging consensus on baseline security provisions for consumer IoT devices. This resulted in a Statement of Support that calls on device manufacturers and vendors to take immediate action on 5 security provisions. 

“The consumer internet of things (IoT) global market size is forecast to grow from $45 billion today to $154 billion by 2028. Whereas early adoption of smart wearables, home electronics and appliances was concentrated in North America and Western Europe, China is projected to overtake the United States as the largest market by the end of 2024.

As the use of connected devices increases worldwide, so does the potential for cyber threats – particularly as new products introduce vulnerabilities, potentially exposing people to hacking or leaks of personal data.

To address this challenge, the World Economic Forum’s Council on the Connected World mobilized a multistakeholder coalition of business leaders, government officials and technology experts to build a consensus on baseline security protections. Reflecting the interests of industry, consumers, white hat hackers and governments, the stakeholders agreed on five security requirements for consumer-facing IoT devices – the first international consensus of this type.”

This statement is a testament to the critical role of multi-stakeholder collaboration in promoting the responsible development of technology and strengthening protection for consumers. 

Read the Agenda: Are smart home and wearable devices secure? A global consensus on 5 security must haves 

Read Press Release: Global Consensus Emerges to Secure Internet-Connected Home and Wearable Devices

About World Economic Forum’s Council on the Connected World

World Economic Forum’s Council on the Connected World is the foremost international platform for industry and public sector leaders to shape governance and innovation of the internet of things (IoT) and related technologies in the global public interest.

About Fluxus

Fluxus is a privately held real estate & infrastructure technology company, committed to Sustainable Way of Building to improve quality of life. The company pioneers Smart Methods of Prefabrication powered by Internet of Things (IoT) – the convergence of the digital and physical worlds, and leverages networks of global partners and innovations in advanced building materials, smart city and connected building technologies, next-generation networks, industrialization and digitalization of construction, where measurable ESG (Environmental, Social, and Governance) metrics are woven into the value chain for creating energy-efficient buildings and net-zero cities.


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