Cisco: $300,000 prize for Internet of Things security apps

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.

At the conclusion of his keynote address at the RSA Conference, Christopher Young, senior vice president for the security group at Cisco, announced what he called the “Internet of Things Security Grand Challenge.” Pointing to the Cisco website description of the contest, 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.