when regulators open doors

News from BusinessWeek

…The Obama administration plans to announce today plans for an Internet identity system that will limit fraud and streamline online transactions, leading to a surge in Web commerce, officials said.

While the White House has spearheaded development of the framework for secure online identities, the system led by the U.S. Commerce Department will be voluntary and maintained by private companies, said the officials, who spoke on condition of anonymity ahead of the announcement.

A group representing companies including Verizon Communications Inc., Google Inc., PayPal Inc., Symantec Corp. and AT&T Inc. has supported the program, called the National Strategy for Trusted Identities in Cyberspace, or NSTIC.

“This is going to cause a huge shift in consumer use of the Internet,” said John Clippinger, co-director of the Law Lab at Harvard’s Berkman Center for Internet and Society in Cambridge, Massachusetts. “There’s going to be a huge bump and a huge increase in the amount and kind of data retailers are going to have.”

via Internet Identity System Said Readied by Obama Administration – BusinessWeek.

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