WASHINGTON--(BUSINESS WIRE)--The Security Innovation Network™ (SINET), an organization focused on advancing cyber security innovation through public-private collaboration, announced its support for the National Strategy for Trusted Identities in Cyberspace (NSTIC). Released today in a press conference by the White House, this initiative aims to create an “identity ecosystem” in order to protect online consumers and support innovation by providing a single secure one-time digital password.
"The goal is to better protect consumers from fraud and identity theft, enhance individuals' privacy, and foster economic growth by enabling industry both to move more services online and to create innovative new services," the White House said in its statement today.
SINET believes that innovation is a major driver to the national economy and smart, well thought-out policies and initiatives such as the NSTIC contribute to a healthier entrepreneurial environment - leading to enhanced job growth and stronger economic sustainability.
NSTIC promises to impact innovation by providing a platform for improved security, convenience and privacy for users within the identity ecosystem. It will increase speed and efficiency along with the confidence and trust of users so they can move from brick and mortar business to online commerce without hesitation. E-commerce worldwide is estimated at $10 trillion of business online annually and continues to grow.
One of the barriers that will impede further growth is our fundamentally unsound and untrustworthy Internet. NSTIC is a voluntary model and is not a national data repository. SINET believes it takes a step in the right direction by mitigating risk and privacy concerns while at the same time making it more expedient to conduct business. In addition, the administration plans to support cybersecurity innovations that specifically address identity solutions and privacy-enhancing technologies, making the online environment more secure and convenient for users and consumers.
“Our password model is broken and we can't wait for perfect,” states Robert D. Rodriguez, Chairman & Managing Principal for Security Innovation Network. “It is not efficient, convenient or safe. There are also increasing concerns over personal privacy issues. Today we cannot ensure who is on the Internet. We lack enrollment and strong authentication processes, which means we have significant accountability and security challenges.”
He continues, “As a retired Secret Service Agent, I understand the significant implications of cyber fraud and the challenges associated with making the world a safer and more secure place. The Security Innovation Network supports NSTIC and applauds White House leadership in tackling a hard problem by actively seeking input from the practitioners - private industry. The White House has set the foundation, laid the groundwork and exhibited leadership. The onus is now on us to step up and lead within in our own communities. Business, from small to large firms, and local and state governments must step up, just as the White House and Department of Commerce have. Collaboration that reinvigorates the public-private partnership model are the way ahead and the time is now to move from ‘me to we,’ to ‘us against them,’ the adversary.”
For more details on the National Strategy for Trusted Identities in Cyberspace (NSTIC), click here, or read the full Strategy here.
About the Security Innovation Network™
The Security Innovation Network™ (SINET) mission is to advance innovation and enable global collaboration between the public and private sectors to defeat cyber security threats. SINET serves as the catalyst that connects builders, buyers, researchers and investors in the cyber security ecosystem. SINET accelerates business opportunities for both small and large organizations through strategic advisory services, community-building activities and networking events. The annual IT Entrepreneurs’ Forum (ITSEF) in Silicon Valley and SINET Showcase in Washington D.C. are supported by the U.S. Department of Homeland Security Science & Technology Directorate and public and private sponsorships.
The organization, founded in 2006 by retired U.S. Secret Service Agent Robert Rodriguez, has developed an elite steering committee representing the nation’s top cyber security influencers. For more information visit www.security-innovation.org or follow @SINETconnection on Twitter.