this post was submitted on 26 Jul 2023
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I'm surprised banks haven't stepped in. They wouldn't help for the good of the world, but this would destroy online commerce and banking.
Why would banks step in? All your financial data is already accessible to the government.
I doubt any of these efforts will break TLS, in-transit, or any at rest type of encryption. They’re goal is to break E2E “zero access” encryption, and it’s usage by commoners. The data and services they can’t already gain access to… Even if they did, politicians will absolve their capital handlers the same as they always absolve themselves, because they’re criminally corrupt corporate whores.
Not because they care about the government. Because they care about hackers.
Creating encryption backdoors for the government means creating encryption backdoors for hackers. Because once encryption is weakened, it’s weakened.
Again, they aren’t going to break the encryption that corporations use, because the laws they pass are ghost written by corporations. Multinationals aren’t going to abandon their own security and dramatically increase their risk because some UK oligarchs go off the deep end.
They will only break the encryption that the proles use, because this is only about increasing control, power, data mining, and profits.
London was Europe’s banking center. Post Brexit much of it has moved to other EU countries, but there are still large teams in London handling investments all over Europe.