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Public Key encryption makes possible untraceable communications intelligible only to the intended recipient. My digital signature demonstrates that I am the same online persona you dealt with yesterday and your colleague dealt with last year, with no need for either of you to know such irrelevant details as age, sex, or what continent I am living on. The combination of computer networking and public key encryption makes possible a level of privacy humans have never known, an online world where people have both identity and anonymity–simultaneously. One implication is free speech protected by the laws of mathematics, arguably more reliable and certainly with broader jurisdiction than the Supreme Court. Another is the possibility of criminal enterprises with brand name reputation–online pirate archives selling other people's intellectual property for a penny on the dollar, temp agencies renting out the services of forgers and hit men.

Source: http://patrifriedman.com/prose-others/fi/commented/Future_Imperfect.html#Public_Key_encryption_makes_possible_untraceable_c

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[Thu Apr 28 02:02:18 EDT 2005-117] Ray Blaak (NOSPAMrAYblaaK@STRIPCAPStelus.net.NOSPAM):
I think public key encryption based solutions are doomed in the long run, or any encryption based solutions for the matter. The reason has nothing to do with any inherent theoretical weakness. Instead, it's precisely because in a super transparent world we won't be able to keep secrets anymore, and that includes your secret keys of an encryption system.

Just think about how easy it is today to have keyboard sniffers, phishing web pages etc., that can surreptiously capture info from your private PC sessions.

Also consider the consequences after our society finally starts to trust in some sort of PK system for finances, legal signing, etc., and then someone figures out how to hack and copy other people's identities. Think identify theft is bad now?

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