Cisco Offers $300,000 Prize For Internet of Things Security Apps

alphadogg writes "Cisco today kicked off a contest with $300,000 in prize money that challenges security experts around the world to put together ways to secure what's now called the 'Internet of Things,' the wide range of non-traditional computing devices used on the electric grid, in healthcare and many other industries. A Cisco SVP concluded his keynote at this week's RSA Conference by announcing what he called the 'Internet of Things Security Grand Challenge.' Christopher Young said the idea is 'a contest of experts around the world to submit blueprints' for how security issues created by the Internet of Things could be addressed. It's expected that up to six winning entries would be selected and the prize money awarded at the Internet of Things Forum in the fall."