And this is good for the public.
Perhaps they do not have to, but they should if they want to retain and grow customers in the future.
Anyone who's been bitten by data theft will tune into this. I imagine that includes any major business. MS is jumping on the bandwagon before it falls behind in the PR campaign. This could be the next campaign similar to environmental friendliness or human rights. It's not enough for tech companies to be "green" or have good factory conditions. Now that they hold so much user data, they must also demonstrate their commitment to security and transparency.