Linked by Thom Holwerda on Wed 6th Jun 2012 22:30 UTC
Privacy, Security, Encryption Bad day for LinkedIn: not only did 6 million of their passwords get stolen and published online (as SHA1 hashes, but still), their iOS and Android applications uploaded your calendars to LinkedIn (after opting in, though). The Sensationalist Headline of the Day Award goes to Ars Technica. I guess everyone's starting to feel the sting of The Verge's fully deserved success.
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I understand your sentiment, but please lets not look to the credit card companies as a model for security. What PCI achieves by keeping secret could be better accomplished by using cryptography.

In a true crypto commerce model, a merchant would receive a digital certificate from customers that entitles that merchant to debit our funds within the constrains listed on the certificate. Whether these are one time or reoccurring, it would simply be impossible to use the certificate elsewhere even if it were published in plain sight. This works because cryptography isn't dependent upon the secrecy that makes credit cards so vulnerable.

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