Federal Communications Commission (FCC) chairman Julius Genachowski has urged Internet stakeholders to take concrete steps to address three significant cyber threats; botnets, domain name fraud, and IP hijacking.
The chairman said broadband Internet over wired and wireless communications networks has opened up a new world of broad opportunity and around $8tn are exchanged over these networks each year.
More than 1 million entrepreneurs around the US are said to be selling their products on platforms like eBay and Amazon.
Genachowski said the internet provides new opportunities for small businesses to expand their markets and lower their costs, but cyber threats risk undermines the opportunities.
He said ISPs and other technology companies should adopt industry-wide best practice standards, instead of announcing new laws or new regulations.
A new system called DNSSEC was proposed, which has already been endorsed by Internet organisations like the Internet Society.
DNSSEC must be implemented in a way that protects individual privacy and its standards are well established and are already being deployed by government entities, said Genachowski.
