US industry should support standards for IoT security
In the auto industry, many vehicles available outside North America don't meet safety standards, so competion for US manufacturers is reduced. At present, consumers have few ways to judge the quality of IoT devices, but they know how much they are paying, so cheaper mostly wins. With credible standards many consumers will pay more for compliant devices. Local governments are heavy users of IoT building management and security cameras. With credible standards, it will be much easier to justify spending more on a better class of devices. For US industry, the standards will be a barrier to cheap imports from vendors who lack the expertise to build standards compliant gear. A big question will be how much influence US law enforcement can exert to have standards mandate back-doors.