The Biggest Internet Security Breakthrough in Decades


by George Gilder, Activist Post:

The current internet infrastructure was built for a simple purpose: sharing information.

The information superhighway was launched by academics to allow researchers on various projects around the world to collaborate.

But as you know, the internet is now used for much more than sharing ideas.

We send money. We log in to bank accounts. We enter our social security numbers. We make video conference calls with colleagues.

Clearly these new tasks require an upgrade right?

Yet the infrastructure of the internet hasn’t been upgraded since its inception.

We all know the result: a cybersecurity nightmare.

There were a billion breaches on the internet last year. A billion breaches of private data.

Of course, the various vendors don’t like when this happens. But it’s only an inconvenience for them. The true burden falls on the consumer.

You’re in charge of replacing credit cards, switching accounts, and dealing with the fallout.

So there’s no incentive for the Googles, the Facebooks, the Amazons, of the world to change.

But this is all going to change sooner than you think, thanks to a new technology that’s creating an explosion of new possibilities for advancement.

But in order to appreciate everything internet 2.0 will provide, I need to reveal why the current system is so fundamentally flawed…

The Danger of Centralized Security

To understand the massive security nightmare that the internet currently represents, we need to take a step back.

In order for information to be shared across the internet, it must be copied. Yes, the internet is a gigantic copying machine. And it’s very efficient for sharing data and documents.

But when transactions entered the picture — actually sending money across the internet — this insecure net couldn’t protect property rights, defend privacy, host safe and efficient transactions, permit micropayments to halt spam, or establish sure identities.

So outside intermediaries became involved. Banks, credit card companies, digital certificate suppliers, etc.

Now, when these transaction entities communicate across the internet, they ultimately have to be translated in to readable forms. As in forms of communication that can potentially be captured by hackers.

Of course, this structure was so vulnerable that the big companies doing transactions — Google, Amazon, Facebook, and eBay — created walled gardens for their own commercial domains. There they could accommodate commerce among their mostly locked-in users.

All secured with an individual login and password.

So now we have the internet dividing into these pyramids regulated by a few giant companies across the net.

This caused increasing segmentation. Within the segments, the big companies collected more and more private data and protected them with firewalls and encryption.

But as time passed, they discovered that centralization is not safe either.

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