"It's not appropriate, or even possible, for government to secure the computer networks of private businesses," he added. "We're going to have to be smart and efficient and focus on what each sector does best, and then do it together."
Obama's executive order encourages companies to form information-sharing and analysis organizations, through which they can share cyber threat information. It also directs the Department of Homeland Security to fund the creation of a nonprofit organization that will develop a common set of voluntary standards, including privacy protections, for these information-sharing cooperatives.
Cyber threat information-sharing bills introduced in Congress in recent years, including 2014's Cybersecurity Information Sharing Act (CISA) and 2013's Cyber Intelligence Sharing and Protection Act (CISPA), failed to pass after questions about how much customer information they would allow companies to share with government agencies, including intelligence services.
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