Interesting idea.
Have you detailed on the hardware requirements ? What processors are you going to use ? Idea is good but making it into reality is a not an easy task.Being someone who has worked on Iot project with hardware and microprocessors,I tell you it is pretty difficult.Also you're going to need a lot of funding if you don't have home developers.
I'm the core iot developer and originator of the idea behind this. I know HW is hard, but thanks to many others its pretty easy to develop upon various stacks. Funding will be needed but we are going step by step.
Stay tuned!