Such systems are sorely needed. Even today’s devices using a hardware root-of-trust such as ARM’s TrustZone are liable to side-channel attacks or fault injections based on monitoring a system’s power use or sending disrupting energy pulses.

“The IoT cannot possibly survive in the long run if there is no security… There’s no hope if we continue on the path we’re on of putting more and more things online that can be compromised either directly or through the network they are on,” he said, calling companies that advertise they can secure the IoT “a fantastic fraud” and “all smoke and mirrors.”

The CRASH program has developed a formal spec for a 64-bit MIPS system that uses special instructions so “if you don’t have right credentials, you can’t get at an associated object, which might be an entire database or app,”

Even if it’s successful it’s not bulletproof. “You still face key management issues, denial-of-service attacks and insider misuse like a Snowden attack, which is one of worst problems of all,” he said.

Source: http://www.eetimes.com/document.asp?doc_id=1331567&page_number=2

Rash of in-the-wild attacks permanently destroys poorly secured IoT devices
Ongoing “BrickerBot” attacks might be trying to kill devices before they can join a botnet.
https://arstechnica.com/security/2017/04/rash-of-in-the-wild-attacks-permanently-destroys-poorly-secured-iot-devices/