Modern electrical appliances are able to connect an internet and thus they will have an IP address. It is rather convenient as we can control them remotely and it is connected to one another. However, it is also posed a threat.
One possibility of the threat is that it is going to be easier for the hackers to steal your personal information such as your identity, bank and credit card information as there is more variety of equipment that the hackers can access to. For example, before, the hackers can only hack into your computer, but, now, the hackers are able to hack to your television, refrigerators or other home appliances.
An example of such case is the high profile cyberattack which happened in late 2013 and early 2014. Hackers broke into 100,000 consumer gadgets, such as refrigerator, televisions, wireless speakers and media centers to release 750,000 malicious emails.
Chris Robets, Colorado-based One World Labs, a security intelligence firm, estimated that there would be about 26 to 30 billion devices connected to internet by 2020. In order to keep them protected from hackers, it will require software upgrades and better consumer education as most internet security expert agrees that most consumers will not understand where their data is stored and who has access to it.
A guideline also has to be set and put in place to ensure privacy and security of the consumers.