Recently, the idea that the Internet of Things (IoT) systems can be advantaged in many ways by integrating social networking concepts is gaining momentum. In this paper we present the social approach that the COSMOS project introduces. COSMOS supports knowledge flow between Things in order to provide a system that learns, observes and evaluates the usage and communication patterns and generates new knowledge. It focuses on the value of experience and experience-sharing and investigates models and principles designed for the social networks, which would provide it with the potential to support novel applications in more effective and efficient ways