In the wake of the Sony hack late last year, cyber-security has been a hot button topic at the four-day World Economic Forum at Davos.

he minister, who held a series of meetings with existing and potential investors in power and coal sectors as also with various government leaders during his three-day visit, said "the auction process is already on, people have started registering themselves on the website".

Speaking to the business and political elite at the World Economic Forum at Davos, Schmidt said: "There will be so many sensors, so many devices, that you won't even sense it, it will be all around you."