I’m reasonably familiar with cryptography but the formalism of obfuscation given here makes no sense to me. > The precise formalism typically used, indistinguishability obfuscation, says that if you are given obfuscations of two different programs that have the same functionality, you can't tell which is which. This seems… not that useful? A sufficiently advanced optimizing compiler would be capable of transforming t…
Cryptographers have proven that it's possible to use this as a primitive from which you can rebuild the rest of common cryptographic primitives (public encryption, symmetric encryption, etc). So--if it's possible to put this together it'll be a novel construction for every cryptographic primitive that also dodges some of the problems with key distribution and negotiation.