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Is Homomorphic Encryption really a step forward?

news.ycombinator.com

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Re: Is Homomorphic Encryption really a step forward?

#2
Let's say it's secret encrypted data, and only someone remote has the key (or more likely, someone who doesn't trust you ;-). Then, in order to move the computation to the data, you'd have to be able to do computation on data that is still encrypted. That's what homomorphic encryption is all about!