IOT is coming. Who will control it?
Whatever it is ultimately called, the IOT will come. Of that you can be sure. It is, in a sense, already with us.
Security is indeed a problem, but the problem is inherent in how we do security, not in the IOT. Properly secured, an IOT world would be safer than a non IOT world. It would also be faster, cheaper and easier.
The number one problem confronting us with the IOT is not the technical failings of our security (though they be many). Those can and will be fixed (made 'good enough'). We have a profound problem of governance that is getting worse with each passing day. Bad players like the MPAA, the RIAA, corrupt/lazy/incompetent politicians and people worse than that have had the citizens of the Internet under attack for some time.
Any techie managing his own local network can see that most of the world could easily and cheaply be connected at Gigabit speeds. The drag on our systems imposed by rent seekers like the telecommunications cartels is obscene. The disparity between what is technically feasible and what is actually possible grows larger every day.
If you had told me forty years ago that I would one day live in a world where it was possible to give every intellectual artifact possessed by humanity to every child in the world for the cost of a few books *and* that we chose not to do so, I would not have believed it ... and yet here we are ... poised on the brink of a magical world and being held back by fools and bullies who are so mean spirited that they would rather we live in a lesser world so they could prevent the rest of us from enjoying abundance that rivals their own.
One need only look to the infamous 'salt laws' to see that those who seek power are not above telling your refrigerator to spoil your food if you don't pay yet another arbitrary hike in pricing. Not only should those guys not be in control, the Darl McBrides of this world should be charged, tried and serve a sentence that denies them access to the commons until they mend their ways.