The Internet of Things (or IoT for short) refers to uniquely identifiable objects and their virtual representations in an Internet-like structure. Radio-frequency identification (RFID) is seen as a requirement for Internet connected devices.
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If all objects and people in daily life were equipped with identifiers, they could be easily managed by computers and other Internet enabled devices such as smart phones and tablets.
Equipping all objects in the world with tiny RFID tags could transform daily life. For instance, business may no longer run out of stock or generate waste products, as involved parties would know which products are required and consumed. A person’s ability to interact with objects could be altered remotely based on immediate or present needs, in accordance with existing end-user agreements.