Comment This Problem Has Already Been Solved. (Score 1) 284
A better question would be: What could we do to improve Internet security for online banking, shopping and improved privacy?
You should ask a real security professional. (Not me, I'm just an amateur.
But I'm glad you asked.
Take out your smartphone and look at it. Had we done it better, you could be holding your "Safernet" terminal. Instead, what you have is a privacy stealing, totalitarian regime supporting, tracking device. One not really owned by you, since you have almost no control over the software it runs, nor the hardware inside, nor any say in the hidden capabilities of either.
We could fix that. But how?
First create a protocol to carry your "Safernet". Call it httpRB maybe.
Next split the phone into two (electrically separated) domains. A RED side, (with its own processor and memory,) and a BLACK side, (with its own processor and memory). The RED side owns all the I/O: screen, ports, radios, buttons, etc); and a BLACK side (with the high powered processor for playing games). Nothing gets in or out of the box without passing through the RED side.
When you want security it is only done on the RED side. Everything else gets done in the BLACK. The RED side doesn't do http, or https, or sound or image decompression or even unicode. RED only does simple text, (with limited unicode for foreign language support,) basic math, and if you want an image it consists of simple RLE image tiles. (No, you don't get secure video telephony.) The RED side ensures, via hardware and audited software that none of this ever reaches the BLACK side. Everything on the RED side is open to audit. Everything!
And no, this isn't two separate phones, you don't need two of everything. But you do need economy of scale and support built into the ICs. You need engineering to prevent sidechannel attacks and yes the phones will be a bit bigger, heavier, slower, harder and more expensive to certify.
And that's it... problem solved...
But it just ain't gonna happen unless it's mandated.