Internet based commerce as well as network based public services are still slow in gaining momentum; customers hesitate to accept the new medium for transactions. Why is his so? Today's acceptance of web based services is hampered by the lack of consumers' trust into the system. They are not sure who is "on the other side" and who they are talking to and who does what with their data and personal information. Additionally, network identity nowadays exists for each user in numerous unrelated "information silos" that cannot interoperate, users have to remember hundreds of userIDs and passwords or pin codes. Objects and services need to be identified and must be enabled to recognize each other. An open federated approach for Network Identity and Trust Management that would also guarantee privacy and security of the consumer's information could help the public to gain trust into these systems and finally increase the acceptance for network delivered services. The Liberty Alliance (http://www.projectliberty.org), a large multi-industry business alliance has set out to create such interoperability specifications and standards. The goals and workings of the alliance will be presented as well as the advantages of a membership. Such an identity/authentication/authorization framework will create new business opportunities for several industries and enable trusted relationships between individuals and the private as well as the public sector.