(COMTEX) B: Digital Signatures to Dominate Business-to-Business Elect
B: Digital Signatures to Dominate Business-to-Business Electronic Commerce
IRVINE, Calif., Jan 5, 2000 (BUSINESS WIRE) -- Forecasting the future
of Internet security, Litronic Inc. (Nasdaq:LTNX), a leading provider
of data security solutions, Wednesday predicted that digital signatures
will become the prominent mode for identification and authentication in
business-to-business electronic communications and transactions in the
next 3 years.
According to Forrester Research, business-to-business electronic
commerce is projected to jump to $1 trillion by 2003, up from $43
billion in 1998 -- validating the need for more secure electronic
communications. The technology behind digital signatures is public key
infrastructure (PKI), an advanced form of cryptography that ensures the
integrity and privacy of electronic transmission of information.
"Several events occurred last year that are driving the integration and
use of digital signatures in business applications where secure access
and confirmation are required," said Kris Shah, president and CEO of
Litronic Inc. "Litronic has worked closely with strategic industry
partners, such as Microsoft, to provide solutions that accelerate
adoption and seamless deployment of digital signatures and PKI
technology in corporate environments."
Dynamics affecting PKI technology and the electronic security market
include Microsoft's technology support, government legislation, and
Litronic's product innovation designed to intercept market needs.
Additionally, businesses' IT resources released from Y2K preparation
are expected to transition significantly to implementation of security
infrastructures.
Microsoft Technology
Microsoft Corp. (Nasdaq:MSFT) has made significant contributions to
Internet security, advancing the technology in a familiar and
easy-to-use operating system with the soon-to-be-released Windows 2000
and Windows Powered Smart Cards. Windows 2000 has integrated security
features such as digital signature and certificate access that can be
used with Windows Powered Smart Cards for the most secure, yet mobile
access. Litronic has been an active contributor to Microsoft technology
as announced in previous releases.
"Litronic's relationship with Microsoft has been mutually beneficial
for the e-commerce industry," said Shah. "Their commitment to Windows
Powered Smart Cards is driving the growth of this market, making
Internet security technology accessible for business-to-business
e-commerce applications."
Government Legislation
In recent months, the U.S. government has passed legislation
supporting digital signatures and easing export limits on encryption
technology. A Senate bill, the Third Millennium Electronic Commerce
Act, allows a digital signature to be as binding as a written signature
in contracts.
The Electronic Signatures in Global and National Commerce Act, a
complementary bill from the House of Representatives, extends the
Senate bill to other types of records including transactions and other
communications among firms and consumers.
Additionally, the government eased restriction on encryption strengths
in exports. U.S. companies are now able to provide the same encryption
strength used in the United States to overseas companies, enabling
international e-trade to flourish.
Again validating the expected move to electronic communication in
commercial applications, the government passed an Act that enforces
digital signatures in government transactions. The Paperwork
Elimination Act will make it mandatory for all agencies to offer to the
public federal documents electronically -- including the use of digital
signature systems by October 2003.
Litronic's Open Technology
Acknowledging the security industry's need for interoperability,
Litronic develops technology that uniquely supports open standards.
Litronic provides products and technology based on PKI and
open-architecture, open-platform, open-token and algorithm-independent
technologies.
Among Litronic's product portfolio is ProFile Manager(TM), a management
tool for deploying digital certificates, digital signatures, tokens and
PKI technology. A digital certificate is a specially prepared software
file that functions as an electronic credential identifying the owner
of the certificate and authenticating the owner's ability to engage in
transactions. Litronic's products are compatible with several
certificate authorities, including VeriSign (Nasdaq:VRSN) and GTE
CyberTrust (NYSE:GTE).
ProFile Manager manages the implementation and maintenance of these
items for enterprise environments by providing a central point of data
management, and controlling issuance, application and content for every
user.
It streamlines policy profiling for certificates, credentials, personal
identification number rules, key generation and key backup and
recovery, and allows customization by offering printing and magnetic
striping with each card.
The company's NetSign(TM) is a comprehensive software package that
brings the power and simplicity of smart cards to every Web-based
transaction. NetSign smart card-enables leading Web browser
applications and enhances security by integrating standards-based
digital certificates with smart cards for secure Web access, secure
email and form/object signing.
NetSign enables current users of Windows 95, 98 and NT to add smart
card capabilities similar to those that will be offered in Windows
2000. This enables corporations to take advantage of smart card-based
security while gradual upgrades are made to Windows 2000.
About Litronic
Litronic provides professional Internet data security services and
develops and markets software and microprocessor-based products needed
to secure electronic commerce business transactions and communications
over the Internet and other communications networks based on Internet
protocols.
Litronic's data security products use an advanced form of computer
security technology referred to as public key infrastructure (PKI).
Litronic's Internet security products can be used with World Wide Web
browsers, including Netscape Communicator and Microsoft Internet
Explorer. Additional information on Litronic is available on the
company's Web site at litronic.com.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: T&O Public Relations
Gina Ray/Jackie Zerbst (media), 949/833-8006
gray@topr.com
jzerbst@topr.com
or
Hill & Knowlton
Geri Weinfeld (investors), 323/966-5768
gweinfeld@hillandknowlton.com
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA
INDUSTRY CODE: COMPUTERS/ELECTRONICS
INTERNET
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
*** end of story *** |
