Earlier quoted context omitted.
This isn't fully homomorphic encryption though only somewhat homomorphic encryption. Addition and things that can be done with routines that only use addition would be able to be performed on the encrypted data, but other operations would not. Or at least having skimmed the white paper, and having some background in this, that was my take away. EDIT: Your explanation of homomorphic encryption is a good way to explain…
Ah, thanks for the edit. I've read about homomorphic computing a while ago, and I was getting excited, but there's still no fully homomorphic implementation, is that right? Is there at least proof that it is possible? This would be amazing technology.
I believe there is a proof of concept which if implemented would be trillions of time slower, so lets say kinda? 100x slower as is the case with this method would be amazing if they managed to get make it fully homomorphic eventually and keep that speed.