Essay on Angel and SSB

It’s not a coincidence that the personal computer and electronic payment were introduced at approximately the same time, a little more than two decades ago. The ability to put significant processing power onto computer microchips opened the door to a series of technological breakthroughs that have changed the way people live and work. But while personal computing was instrumental in the development of electronic payment, the rapid and relentless growth of processing power has also posed one of the biggest risks for payment. That’s because this rise in processing power has put tremendous computing capabilities into the hands of individual users, a few of which have tried to use this power to defraud service providers and consumers.

Fortunately, fraud has been a relatively manageable problem for most of the two decades that electronic payment has been in existence. The reason for this is the emphasis that the payment industry has placed on comprehensive and sophisticated security. These security measures have established and maintained fundamental trust among consumers, retailers, and service providers that is necessary for electronic payment to function. Today, the value of payments worldwide continues to soar, making the potential for losses huge. At the same time, fraud is becoming increasingly sophisticated and difficult to counteract. The concentration of supercomputing power on desktops and in homes has given resourceful criminals an even better opportunity to unlock respected security algorithms such as DES, and to devise clever schemes for card skimming and identity forgery.

The financial community should be planning to transition to a new generation of cryptographic algorithms. When DES was first introduced, it represented the "only game in town." IT supported encryption, authentication, key management, and secure hashing applications. With a broader interest in security, the market can now support optimized algorithms by application..................

ESSAYS ON TECHNOLOGY