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12/25/11

U.S. Unveils Plan to Shield $10 Trillion Online Marketplace - by Juliann Francis

The U.S. government plans to spend $56.3 million on technology aimed at safeguarding the online marketplace and those who operate in it, including consumers, businesses and government agencies.

“The fact is that the old password and username combination we often use to verify people is no longer good enough,” and leaves Internet users “vulnerable to ID and data theft,” Commerce Secretary Gary Locke said at a conference today in Washington. “Nowadays, the world does an estimated $10 trillion of business online.”

The plan, called the National Strategy for Trusted Identities in Cyberspace, “charts a course for the public and private sectors to collaborate to raise the level of trust” connected to online identities, according to the plan.

Note EU-Digest: this smells of infringement on personal privacy rights.

For more: U.S. Unveils Plan to Shield $10 Trillion Online Marketplace - Bloomberg

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