Payments Awards

Preventing a digital dark age

Written by Mark Evans
24/01/2018

The World Economic Forum has announced a new Global Centre for Cybersecurity to help build a safe and secure global cyberspace.

To be based in Geneva, Switzerland, and supported by BT, the centre will be an autonomous platform for governments, businesses, experts and law enforcement agencies to collaborate on cybersecurity challenges.

“If we want to prevent a digital dark age, we need to work harder to make sure the benefits and potential of the fourth industrial revolution are secure and safe for society. The new Global Centre for Cybersecurity is designed as the first platform to tackle today’s cyber-risks in a truly global manner,” said Alois Zwinggi, managing director at the World Economic Forum.

The Davos-based forum has stated that the cost of cybercrime to the global economy could go up to $500 billion annually. In comparison, the annual GDP of Switzerland in 2017 is estimated at $659 billion.