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CONTACT: Amy Smorodin
October 18 , 2006
(202) 289-8928
Culture of Trust and Security Needed in e-Commerce
PFF Releases Aspen Remarks from Coviello of RSA, The Security Division of EMC

WASHINGTON D.C. - Art Coviello, Executive Vice President, EMC Corporation and President, RSA, the Security Division of EMC, urged businesses, governments and consumers to play a role in creating a culture of security and trust in remarks to The Progress & Freedom Foundation's 2006 Aspen Summit. In his August 21st morning address, "A Culture of Trust and Security: The Foundation of a Growing Digital Economy," Coviello put forth recommendations to create such a culture and outlined the roles of consumers, business and government. PFF is making Coviello's written remarks from the Aspen Summit available as a Progress on Point to complement the archived webcast of the speech.

During his address, Coviello identified the Internet as central to growth in the global economy. "The Internet and the applications and technologies it spawns are the great equalizers. It is not just the speed with which information flows, but the spread of technology and its ubiquity that enable economies like China's and India's to catch up so fast," he explained. "[B]ecause of the ubiquity and increasing convergence of all this technology, we must continue to expect more intense competition." To spur this increased productivity and competition brought about by e-commerce, a culture of trust and security is vital.

Coviello offered the following broad recommendations to facilitate this culture of trust and security:

  • Because of the dynamic nature of Internet technologies, strive to minimize risk as opposed to eliminating risk entirely.
  • Implement best practices, such as "attacking the attackers" and sharing information about attacks and sources.
  • Privacy should be respected but users must realize some level of privacy will be lost when they participate in the digital economy, sometimes to ensure security.

Coviello also suggested specific roles for the various players in the digital economy. He urged business and academic institutions to develop policies to minimize risk that include an emphasis on process in addition to technology. Coviello also advised businesses to audit and review security processes and policies frequently. He warned government against implementing technology-specific regulation and instead suggesting that regulation should focus on the promotion of best practices. Coviello also urged consumers to take responsibility for security by using the technical tools provided and actively monitoring for fraud.

Coviello identified specific roles for technology companies. He explained that security technology should enhance, not detract from, the user's experience and should be adaptable to the environment and situation. Finally, he stated security technology should be interoperable with other products and technologies, and that this could be achieved by standards-setting bodies and private arrangements between companies.

PFF has released written remarks from a variety of keynote speakers from the 2006 Aspen Summit. These include renowned University of Chicago Law Professor Richard Epstein; Tom Tauke, Verizon's Executive Vice President of Public Affairs; Qualcomm Co-Founder and Chairman Irwin Jacobs; Qwest Chairman and CEO Richard Notebaert; and Sumner Redstone, Executive Chairman and Founder of Viacom Inc. and CBS Corporation. Webcasts of keynotes and discussion panels can be found on the PFF website.

The Progress & Freedom Foundation is a market-oriented think tank that studies the digital revolution and its implications for public policy. It is a 501(c)(3) research & educational organization.



The Progress & Freedom Foundation