Discuss the much talked about role of public key authentication in the future of e-commerce. Is the role of PKI in authentication exaggerated

Public key authentication is fundamental to securing e-commerce transactions. It ensures confidentiality, integrity, authenticity, and non-repudiation. For instance, Transport Layer Security (TLS), using public key cryptography, encrypts communication between a user's browser and a website, establishing HTTPS connections. Digital signatures, also based on public key cryptography, verify the origin and integrity of data. This guarantees that transactions like online contracts or payments have not been altered and were sent by the claimed party, providing non-repudiation.

The Public Key Infrastructure (PKI) is the framework supporting public key authentication. PKI manages the creation, distribution, revocation, and validation of digital certificates. These certificates bind public keys to specific identities. In e-commerce, PKI helps users trust that the online store server they connect with is legitimate. This trust relies on certificates issued by trusted Certificate Authorities (CAs) within the PKI. For example, SSL/TLS authentication for secure online shopping relies on PKI to manage server certificates.

The role of PKI in authentication for e-commerce is not exaggerated. It provides a foundational security layer. However, its implementation and ongoing management introduce complexities, such as key management challenges and certificate revocation processes.