McAfee's parent company Intel is already a part of the Open Interconnect Consortium, a body created by industry leaders to create a standard specification and an open source project to address the challenges related to the upcoming IoT devices.
McAfee will be responsible for addressing the safety issues as billions of connected devices set to come online.
The first step for the antivirus maker is to establish the requirements for safer operation of the devices then it will create a cross platform IoT standard for companies to use.
McAfee's chief consumer security evangelist, Gary Davis said: "The consortium plans to deliver on three goals to help developers improve interoperability and device-to-device connectivity for the internet of things: a standard specification, an open source implementation and a certification program,"
"The ultimate goal of our consortium is to enable IoT devices to connect and talk with one another regardless of who constructed the device in a safe and responsible manner."
Davis added that the company will set up norms for how IoT devices will operate safely in the smart home and the smart office.