§16§Some years ago, businesses could choose whether to migrate to electronic commerce, however, today it seems they have no choice. Predictions indicate that companies that do not make the necessary changes will be overrun by competition and ultimately fail. Therefore, we see more and more companies undergoing tremendous transformationin order to adapt to the new business paradigm. At the same time new companies are being established. One thing these companies have in common is the increased dependency on security technology. The invention of electronic commerce has changed the role of - curity technologies from being merely a protector to being also an enabler of electronic commerce, and it is clear that the development of security techn- ogy is a key enabler in the growth and deployment of electronic commerce. This has been recognised at European level (European Union 1997e). The launch of a comprehensive EU policy in the area of security in open networksisfairlyrecentwiththeadoptio §16§nofaCommunicationoncryptog- phy inOctober 1997(EuropeanUnion1997c). A veryimportantcomplement and support to the European policy is the European Commission s contri- tion to overcometechnological barriers by giving special importance to R〓04§The Vision of SEMPER.- I. The Vision of SEMPER.- Secure Electronic Commerce.- Technical Framework.- Legal Framework.- Vision of Future Products.- II. Project Achievements.- Project Achievements.- 5: Organizational Overview.- Architecture.- Experiments.- The Fair Internet Trader.- The Commerce Layer: A Framework for Commercial Transactions.- Fair Exchange: A New Paradigm for Electronic Commerce.- 11: The Payment Framework.- 12: Trust Management in the Certificate Block.- 13: Limiting Liability in Electronic Commerce.- 14: Legal Aspects.- Future Directions in Secure Electronic Commerce.
