The IoT will be vital to influencing the potential evolution of the Internet by facilitating linkages among dissimilar things, smart objects, and machines not only between themselves but also with the Internet, resulting in the creation of interoperable and value-added services and applications. The Third Generation Partnership Project (3GPP), a consortium of seven telecommunication standards development organizations (Association of Radio Industries and Businesses [ARIB], Alliance for Telecommunications Industry Solutions [ATIS], China Communications Standards Association [CCSA], European Telecommunications Standards Institute [ETSI], Telecommunications Standards Development Society of India [TSDSI], Telecommunications Technology Association (TTA) of Korea, and the Telecommunication Technology Committee (TTC) of Japan,) and the Institute of Electrical and Electronics Engineers (IEEE), defines interoperability as “the ability of two or more systems or components to exchange data and use information” (Sutaria and Govindachari, 2013). According to a report by McKinsey, interoperability enables 40% of the total potential economic value from implementing IoT (Manyika et al., 2015). McKinsey advocates adoption of open standards and implementation of open systems and/or cross-platforms that enable different IoT systems to communicate with one another.