[arin-announce] ARIN Resource Certification Update

Sun Jan 30 15:35:51 UTC 2011

On Sun, 30 Jan 2011 11:57:57 -0200, Carlos Martinez-Cagnazzo said:
> What I just don't get if, we as a society, have created institutions
> we trust with our *money* (AKA banks), why there can't be institutions
> we trust with our crypto keys. I know that banks sometimes fail, and
> yes, probably "crypto banks" will sometimes fail as well, but on the
> whole, the failure rate of trusted institutions can be quite low,
> acceptably low.

There's a big difference.  If a bank screws up and loses $5,000 of my money, I
can (at least potentially) sue them and recover $5,000 which is  pretty much
identical to the $5,000 I lost.  If a key escrow company loses my private key,
getting back an identical private key is exactly the *wrong* solution.

Crypto keys are not interchangable like dollar bills.
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