At its simplest, cyberspace is a global medium for communication and information exchange between computers and their human operators, an environment (of sorts) in which it is possible for digital signals to be sent, received and processed. Like other communications media, the operating conceit of cyberspace is that it should be indifferent to the quality and meaning of the traffic it carries. It comes as no surprise, then, that cyberspace can be a vehicle for challenge, insecurity, instability, crime and competition.But it can just as often signify opportunity: commercial, economic, cultural, political, social and even moral, in terms of individual human fulfilment.It is not unusual to find challenge and opportunity sitting side by side;this is the case, after all, in most arenas of human interaction. To ensure that such interaction is defined more by opportunity than by challenge, the human instinct is to oversee and to regulate. This instinct is particularly strong in cyberspace because it is a technological construct -a human artefact with which its makers and managers can be as conservative or as ambitious as they wish.This regulatory impulse can lead in a number of directions. The most conservative, minimalist rationale for intervention in -or, more accurately, governance of -cyberspace might be to maintain the well-ordered, disinterested, global information-and traffic-management system it has become. A median position, conveying libertarian, anti-authoritarian convictions, might be to argue that the internet was designed and built