I rarely keep everything in my wallet and would cringe if that was lost. I can't imagine that the phone is any more secure, hackers will figure out a way to get in. On the other hand, it should be possible for a "lost" phone to be erased by the cell phone company (I am sure for a fee). That would be a nice option to have for security.
What are the engineering and design challenges in creating successful IoT devices? These devices are usually small, resource-constrained electronics designed to sense, collect, send, and/or interpret data. Some of the devices need to be smart enough to act upon data in real time, 24/7. Specifically the guests will discuss sensors, security, and lessons from IoT deployments.