The Internet of Things(IoT) describes an emerging technology paradigm that involves the networking of diverse technologies through common internet based platforms. The European Research Cluster on the Internet of Things defines the term as such “The Internet of Things is a concept and a paradigm that considers pervasive presence in the environment of a variety of things/objects that through wireless and wired connections and unique addressing schemes are able to interact with each other and cooperate with other things/objects to create new applications/services and reach common goals.”