VeriSign: All Your Passwords Are Belong to Us

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VeriSign announced they are creating mobile authentication devices to help fight off online fraud and identity theft while putting themselves closer to consumers.

The WSJ mentioned the news:

VeriSign Inc. plans to create a common system that will allow multiple companies to provide secure access to online accounts with pocket-sized security devices, rather than relying on passwords alone.

VeriSign hopes to attract numerous banks, brokerages and e-commerce sites to the network in one of these roles, creating a shared system akin to ATM networks to offer fraud-wary consumers greater security, while keeping a lid on costs for participating companies. The initiative could be a boon for VeriSign, by opening up a much bigger market for its user-authentication business.

A while ago I bought the Roboform Pass2go USB stick, but am frightened at the prospect of loading up data and losing it. I am sure a second element could decrease that risk, but is VeriSign a name you trust enough to be a middleman in all your accounts?

It recently didn't work too well for the web.

Last year VeriSign bought Moreover and Weblogs.com. Combining those with some of VeriSign's other positions could allow them to be a big player in many markets if people trust them.