Cisco: $300,000 Prize for Internet of Things Security Apps

Cisco is trying to get ahead of the curve with the ‘Internet of Things’ which is gaining traction with new products every day. The problem lies with the lax security being given these ‘smart appliances’ and that’s where Cisco’s contest comes into play.

According to the Cisco blog item, the goal is to devise security approaches for devices used in manufacturing, mass transportation, healthcare, oil and gas and the smart grid, which would be judged for feasibility and scalability.

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So in other words, they are asking for free work from a bunch of people and going to "give" $300,000 worth of prizes out instead of having to actually hire and pay probably 5-10 times that much to work on the ideas themselves?

Cisco - striving to make IT people hate them even more.