(VOVworld) - US President Barack Obama on Friday called on private sector to work more closely and share more data on cyber threats with federal government in a summit on cyber security at Stanford University.

US President Barack Obama

The White House Summit on Cyber security and Consumer Protection brought government officials and business executives together to help shape public and private sector efforts to protect American consumers and companies from network threats. The one-day event aimed to address such topics as public-private collaboration on cyber security, improving cyber security practices and technology and promoting more secure payment technologies. Among the participants were CEOs from technology companies, financial institutions and other industries as well as secretaries of US Department of Homeland Security and Department of Commerce. In his keynote speech, Obama noted that countering cyber threats has to be a shared mission. Obama signed an executive order right after the speech to promote public and private cooperation. The order encourages private sectors to create information sharing hubs for particular threats or in specific regions. It also gives government agencies authority to share cybersecurity data with the information hubs and companies easier access to secret cybersecurity information.