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No, its not new, in fact Schneir lists examples that have been around for a very long time (restaurants in particular). But it is taking on new aspects and new
by timwiseman 17y ago
No, its not new, in fact Schneir lists examples that have been around for a very long time (restaurants in particular).
But it is taking on new aspects and new prominence in the IT field.
I do not think regulation will actually change much. Reputation will still be immensely important. Obviously it will remain significant in quality of service, and regulators can only establish a base minimum if they can do anything at all in terms of quality of service. Regulators can (and should) play a greater role on the security side, but even there they can only establish base minimums and many will fall below that anyway. Companies will always be able to exceed that minimum, and that will often be important, especially to those that really care about security.
- nazgulnarsil 17y agoregulations can erect barriers to entry (the cost of complying with regulation in many industries are massive, cars for example), meaning that existing players can lower their service standards by a set amount (down to the point where a competitor could expect that better service would gain enough of the market to recoup the entry costs). a barrier to entry effectively changes the risk/reward expectation of investors.