Improve the sustainability of Internet of Things through trading-based value creation

Abstract

Internet of Things (IoT) has been widely discussed over the past few years in technology point of view. However, the social aspects of IoT are seldom studied to date. In this paper, we discuss the IoT in social point of view. Specifically, we examine the strategies to increase the adoption of IoT in a sustainable manner. Such discussion is essential in today's context where adoption of IoT solutions by non-technical community is slow. Specially, large number of IoT solutions making their way into the market every day. We propose an trading-based value creation model based on sensing as a service paradigm in order to fuel the adoption of IoT. We discuss the value creation and its impact towards the society especially to households and their occupants. We also present results of two different surveys we conducted in order to examine the potential acceptance of the proposed model among the general public.