"One Internet" Report: Summary

The Global Commission on Internet Governance (as part of the Centre for International Governance Innovation) has put together a report on the importance of online connectivity to our economic and social well-being. Whilst extolling the many positives, the report was keen to push a number of recommendations along with some key facts. Here are the main points to take-away from the 'One Internet' report:

The Internet of Things

Estimates put the economic contribution of the Internet as high as $4.2 trillion

The Internet of Things could result in upwards of $11.1 trillion in economic growth and efficiency gains by 2025

Cybercrime

The cost of cybercrime in 2016 may be as high as $445 billion

IT security firm McAfee contends that cyber-crime costs the global economy between $375–575 billion per year.

That figure could grow as high as two trillion dollars a year by 2019 and continue to increase to as much as three trillion dollars annually by 2020

Some research suggests that the annual costs of global cyber-crime could surpass the annual benefits of the Internet by 2030.

Security cannot be treated as an afterthought, trailing technological innovation, nor is it an issue for governments alone. Personal freedom, economic growth and innovation, particularly in the IoT, will be degraded if the digital space is not sufficiently secure and all actors do not practice better digital “hygiene.” The world could be left with an “Internet of Threats” rather than an “Internet of Trust” if systems are not designed and deployed with security and resilience at their core.

Privacy

Manufacturers and vendors of information and communication technologies (ICT) should follow the principle of privacy and security by design, when developing new products, paying particular attention to embedding security in the burgeoning IoT.

They must be prepared to accept legal liability for the quality of the technology they produce.

Buyers of ICT products should also collectively demand that manufacturers respond effectively to concerns about privacy and security.

Cyber Insurance

Businesses should purchase cyber insurance to cover the liability costs of breaches of their systems.

Cyber premiums should be higher if best practices are not followed.

Insurers need to have better data to appropriately identify and price cyber risk and to develop appropriate products.

Children

One of every three Internet users in the world is a child.

However, protecting children online, as in the physical world, requires special consideration. As digital natives, children are often far more adept with digital technologies than their parents, teachers or legal guardians.