Internet technology has changed how people work, live, communicate, learn and entertain. The internet adoption is rising rapidly, thus creating a new industrial revolution named "Industry 4.0". Industry 4.0 is the use of automation and data transfer in manufacturing technologies. It fosters several technological concepts, one of these is the Internet of Things (IoT). IoT technology is based on a big network of machines, objects, or people called "things" interacting together to achieve a common goal. These things are continuously generating vast amounts of data. Data understanding, processing, securing and storing are significant challenges in the IoT technology which restricts its development. This paper presents a new reference IoT model for future smart IoT solutions called Cloud Web of Things (CloudWoT). CloudWoT aims to overcome these limitations by combining IoT with edge computing, semantic web, and cloud computing. Additionally, this work is concerned with the security issues which threatens data in IoT application domains.

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