Given the number of data breaches in the headlines of late, it seems the world would want to shift to a different payment system model, like Bitcoin, for example. But Bitcoin suffered an early blow to its reputation after a breach involving the online theft of 850,000 bitcoins. The problem in that case, as in all online payment systems, starts with “single signature” accounts, where all that’s needed to gain access is a password, write Paul Vigna and Michael Casey for The Wall Street Journal. What’s needed for the masses to adapt to a more secure payment system like Bitcoin is a “dual-key system,” Vigna and Casey write, where two points of access are required. (Registration may be required to access this story.)
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