Trail-blazing businessman in IoT inspires industry with new standards

There are not many people who can claim that their actions have had an impact on the lives of millions, but Liu Haitao probably can.

"I have worked to make internet of things technologies a reality for nearly 20 years, and there's no reason I can't carry on for another 20," said Liu, founder of World Sensing Net Group, a major player in the field of IoT, based in Wuxi, Jiangsu province.

Before becoming the successful businessman that he is today, Liu worked as a scientist at the Shanghai Institute of Microsystem and Information Technology at the Chinese Academy of Sciences, where he helped develop China's first moonlet - a small artificial satellite.