The world needs an new PayPal

The recent hacking of a gizmodo journalist has brought the issue that password protection is not enough. It should be managed by an authorized third party such as Paypal that checks credentials. It should no longer be a basic question such as your city of birth or your favorite pet. It could involve physical retailers like RiteAid and Walmart who check one's identity to confirm their account with a photo ID.

Some recent attempts with Google's text-messaging password protection is too complicated. It does not address the entire community. It is a step in the right direction, but more is needed.