In discussions about the fourth industrial revolution, a concept which is often mentioned is the Internet of Things. The Internet of Things refers to an ecosystem of objects which are interlinked by means of being connected to the Internet and which are able to collect and share information from the external environment. In the contemporary world, the Internet of Things has already become prevalent in a wide range of technological applications such as the smart home, smart parking systems, and Apple Watch, among others, and offers consumers benefits such as simplifying workflows, ensuring a safe environment, and saving energy. However, the prevalence of data exchange inherent in such systems is raising concerns about security. What steps should be taken to determine and regulate the amount of personal information companies may collect and how they can use it? Will universal rules be developed and applied, or will regulation remain predominantly the purview of individual nations? Are there technical solutions that can ensure that the Internet of Things remains secure and could advances in blockchain provide a solution? What responsibilities do intermediaries between manufacturers and users bear in the event that the manufacturer breaches the users personal data rights?