The Internet of Things allows for real-time data monitoring, which is crucial to regulatory reform.
One under-appreciated aspect of the changing relationship between the material world and software is that material goods can and will fail â€” sometimes with terrible consequences.
What if government regulations were web-based and mandated inclusion of Internet-of-Things technology that could actually stop a material failure, such as a pipeline rupture or automotive failure, while it was in its earliest stages and hadn’t caused harm? Even more dramatically, what if regulations couldÂ even prevent failures from happening at all?
With such a system, we could avoid or minimize disasters â€” from Malaysia Airlines Flight 370’s disappearance to the auto-safety debacles at GM to a possible leak if the Keystone XL pipeline is built â€” while the companies using this technology could simultaneously benefit in a variety of profitable ways. Read more…