A 1994 graduate of the U.S. Naval Academy and has a master's degree in Information Warfare and Systems Engineering from the Naval Postgraduate School. He served as a Global Network Vulnerability analyst (Forbes used cryptographer) for the National Security Agency and as a Special Duty Cryptologic officer for the Navy.
He is executive director of the Monterey Group, a cybersecurity consulting firm. He's also on the faculty of IANS, an information security research company and works with the U.S. Cyber Consequences Unit.
In a 2008 interview with forbes "A Tax On Buggy Software" Rice talks of a "tax on software based on the number and severity of its security bugs. Even if that means passing those costs to consumers"
"Back in the '70s, the U.S. had a huge problem with sulfur dioxide emissions. Now we tax those emissions, and coal power plants have responded by using better filters. Software vulnerabilities, like pollution, are inevitable--producing perfect software is impossible. So instead of saying all software must be secure, we tax insecurity and allow the market to determine the price it's willing to pay for vulnerability in software. Those who are the worst "emitters" of vulnerabilities end up paying the most, and it creates an economic incentive to manufacture more secure software."