To view a detailed agenda CLICK HERE
 
MandA.TV: Carlos Moreira – Wisekey

 
Carlos Creus Moreira Roundtable on CyberSecurity and IoT at the New York Investment Summit 2015
 

GENEVA, Feb. 13 2015 – President Barack Obama will convene top executives today in a first-of-its kind cybersecurity “summit” taking place as the government and corporate executives each struggle to adjust to persistent and sophisticated breaches.

One of the big subjects will be Big Trust and how companies that embrace Big Trust and prioritize security over customer-data commercialization will be rewarded by consumers who tire of repeated intrusions into their privacy.

What is the difference between ‘security’ and ‘trust’ on the internet?

Trust is local, security is global. 2015 is shaping up to be the year that consumers and companies both come to this realization. Opportunities to bridge this gap abound as cyber-security start-ups quickly become Silicon Valley’s most recent fascination and venture capitalists have flooded the sector with investment as they look to back the latest technology used to fight criminals online.

On the whole, we’re doing a great job at securing the internet and developing new technologies to allow for enhanced personal data protection. But if security is to be viable, it must be engineered at the global level. Enter Big Trust, the new coin of the realm that is rapidly replacing the market’s fascination with Big Data.

At the recent World Economic Forum in Davos 2015, Big Trust emerged as a concept that gives due weight to trust’s importance in the digital age as billions of people around the world have grown increasingly distrustful of the internet and that the urgent necessity for a new model has emerged.

More information on BigTrust is available at:

https://agenda.weforum.org/2015/01/should-big-trust-replace-big-data/?adbid=562403886665695234&adbpl=tw&adbpr=154249812&scid=social_20150203_3956279

Author: Carlos Moreira is Founder and CEO of WISeKey, a Geneva-based World Economic Forum Global Growth Company and member of the World Economic Forum  and Member of the World Economic ForumGlobal Agenda Council on the Future of IT Software & Services

WISeKey is a leading global digital security solutions company. Working at the forefront of information cybersecurity, identity management, and mobile software services, WISeKey’s mission is to facilitate the global growth of secure electronic transactions by providing individuals, businesses, and governments with advanced technology and services that authenticate and protect digital identity across the full spectrum of personal, business and administrative transactions online. WISeKey, established in Geneva, Switzerland in 1999,https://www.wisekey.com, is a World Economic Forum Global Growth Partner Company.

Contact Person: Youmna Abisaleh, yabisaleh@wisekey.com +41 79 946 00 89

Electronic communication keeps expanding. With big data, convergence and the Internet of things we are on the move into yet unchartered territory. A wealth of new services, meeting our outstanding needs in health, education, commerce, and public services, could be developed and scaled in ways never seen before. Conversely, however, the disorderly access and diffusion of personal information without our knowledge harbours unknown risks. Following developments ranging from the Snowden revelations to major hacks by criminal gangs, trust in the privacy and security of digital communication has come to a new low. Much is at stake, given the share of the global economy that is already based upon digital communication and its growing reach into new domains. Not only has the number of Internet users passed 2 billion. Another 5 are set to join in a few years down the road. 50 billion electronically communicating devices will emerge as well, each one embedded in frameworks of authentication and authorisation framed to decide who calls the shots, and who does not, in a myriad of exchanges and transactions every minute around the world. It is in this context that the development and usability of trustworthy eServices need to be shaped. Multi-factor authentications and hardware based credentials, a sound approach to privacy protection of biometric credentials, and for interoperability of different authentication methods, along with a common understanding of their respective credentials, are in demand. So is the rise of support actions including better harmonized and more compatible regulation, legislation and data protection schemes. Capturing the opportunities and countering the threats requires new responses. More sophisticated passwords and heavier PKI will not do the trick. A myriad of interlinkages supported by a range of communication tools requires a seamless and systemic response. It appears necessary to move towards a common framework for identity management. One way or the other, this seems inevitable building block in the discourse of achieving cross border or borderless communication and transactions in an increasingly fast-moving digitalised global economy. But how are different technological solutions to be reconciled? At what level are common protocols required? What cross-border legal interoperability is required for orderly authentication and authorisation in the world of tomorrow? Is the introduction of a common system for electronic identities the response that we need? A globally valid ID? Or a common European ID, in our part of the world, as a first step? Is successful collaboration in this respect the platform on which we can build trusted e-services, with the certification and support mechanisms that are required? If that is not happening, or cannot be achieved in Europe; why is that so? Will a common effort of this kind then instead take hold in other parts of the world? Or is there another way of coordinating and enabling joint progress? The situation at hand calls for immediate actions to increase security, interoperability, and privacy in order to regain trust. Following an initiative from WISEKey, OISTE, GINI S.A., IKED and the Fraunhofer Innovation Cluster next generation ID this topic is featured at the World Economic Forum in Davos 2015 in an event that brings together decision makers from in policy, industry, research and civil society around the world to discuss this most relevant topic involving all relevant stakeholders. Following the great success of the Davos 2014 Roundtable “Addressing Identity of People and Things, Privacy, Security and Trust on the Cloud“, sponsored by WISeKey, in which selectedalpha, including Neelie Kroes, European Commissioner; Humberto Ribeiro, SCS – Ministry of Development, Brazil; Prof. Thomas Andersson, IKED; Prof. Alex “Sandy” Pentland, MIT and Marina Grigorian, Fraunhofer FOKUS, discussed the future of identity management and data governance under the moderation of Carlos Moreira.

https://www.wisekey.com/press/wisekey-exclusive-panel-identity-security-big-success-world-economic-forum-annual-meeting-davos/

During the 2015 edition a second roundtable on the subject will be organised, this time addressing

THE RISE OF BORDERLESS ELECTRONIC IDENTITIES:  ADDRESSING PRIVACY SECURITY AND TRUST IN THE POST-PASSWORD ERA.

The objective for the 2015 edition will be to provide a neutral platform for all the stakeholders working on Cybersecurity, Trust Models and Digital Identification to work together and collaborate on a common electronic identity system. For Europe this responds directly to the proposed Single European Digital Identity Community as envisaged by the Digital Agenda (DAE) in its Key Action 16. Other regions, the ITU and other multilateral bodies are likewise increasingly engaged with these issues.

The roundtables will also explore the direct significance of such a common identity system for realising trusted e-services in diverse markets. This includes a financial track bringing experts from M&A to discuss trends Global Cyber Security as the spending on this market is expected to reach $100 billion in 2015 and is forecast to grow at an annual rate of 22 percent in the next five years to reach 160 million in 2018. The United States, China, Brazil and Europe account for 90% all deals globally triggered by growing cyber threats and increasing awareness among both organizations and consumers of accelerating breaches and attacks, from our report. In most regions, the private sector accounts for the majority of Cyber Security spending, with the U.S. the notable exception where government spending is almost equal to that of the private sector. The strong U.S. technology industry combined with the fact that the U.S. defence and intelligence budgets are significantly larger than in any other country are key market drivers. Other key drivers underpinning growth in Cyber Security spending include: Increasing cyber threats, both from new actors and new threat vectors (the paths that attacks can take). Greater vulnerabilities due to the more pervasive use of technology, particularly mobile devices and cloud computing. Increasing awareness by organizations and consumers of the threats and potential threats. Changes in technology driving product and service innovation of security solutions. Increasing regulation, particularly those enforcing the requirement to secure personal data. Changes in outsourcing; some organizations are increasingly relying on partners for security, whilst others are growing internal security spending to maintain greater levels of control.

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For more information about WISeKey and Cyber Security contact:
Youmna Abisaleh
Digital Marketing & Sales Manager
Email: yabisaleh@wisekey.com, Tel: +41 79 946 00 89
For more information about the 2014 M&A Advisor Summit featuring the Stalwarts Roundtable on Cyber Security contact:
Liudmila Pisareva
Leadership Services Manager, The M&A Advisor
Email: lpisareva@maadvisor.com Tel: 718-997-7900

Each year banks move sensitive data across the Internet without using digital identities to authenticate their clients, while each year cybercriminals become more sophisticated and able to hack these banks. Yet the one thing supposedly protecting us all hasn’t changed much: the way banks let users access them using passwords, without using digital identification, and secure email in addition to securing their web servers. Digital identities are among the strongest methods that can be used to authenticate our e-identities, yet some financial institutions are still not considering the risk of inadequate authentication mechanisms.
 

Banks need to start encrypting their Data : Robert Wolf Statement

Yesterday on Bloomberg, Robert Wolf chief executive of 32 Advisors, described how WISekey can protect banks in the USA against cyber-attacks. JP Morgan’s recent breach impacting 83M+ accounts is reportedly one of the most serious breaches of an American corporation, with nine other banks reportedly having also been touched.
 

CyberSecurity Solutions for Banks

Web users should start using apps like WISeID with strong complex trust passwords associating their online identity to protect sensitive banking information, business communication and encryption of their personal data.
Financial services customers can use technologies like WISeID and Digital Certificates to protect their online identity and sensitive banking information.
The security model currently in place at banks follow the “fortress mentality”. “The bad guys were out there, and all one had to do was load up on software, hardware, firewalls, biometric systems. The problem with latest cyber threats is that the enemy was actually inside the bank, with a USB stick or a cell phone camera, simple technologies to collect information and bring it beyond the massive defensive walls. Nowadays, however, banks needs to start adopting more effective measures to maintain greater control over staff members, give them digital IDs that permit better tracking and restrictions.”
Banks should invest in Cybersecurity companies and create a Cybersecurity consortium sharing the information and technology allowing them to protect themselves in the same way hackers exchanges the information on how to attack them. While information security has been a key concern since the proliferation of computer networks, the increased levels of concern have prompted organizations such as the private banks to devote more resources and request assistance from security firms such as WISeKey to combat this threat.
Computers can be used as weapons, and the effort to improve computer security is driven by contradictory forces, as although the Internet needs to remain open, with its totally unsecured and decentralized architecture.

 

WISeKey Profile and Mission

WISeKey is a leading eSecurity company, with over 15 years of experience in information security and trusted digital identities. Our strategic location in Switzerland and partnership with the OISTE foundation sets us apart from other digital security providers in that we can offer geopolitical neutrality. Our certificates are trusted globally by a wide range of customers, governments, business, and individual website hosts, who continue to operate in safe and secure environment thanks to WISeKey’s digital security solutions. WISeKey’s portfolio offers globally trusted SSL certificates with the highest assurance and warranties, at a really competitive price. 
Download our Digital IDs for Servers and Users at: www.wisekey.com/solutions/finance

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Contact Person: Youmna Abisaleh +41 76 946 00 89, yabisaleh@wisekey.com