Why Crypto Regulation is Doomed to Fail

Hansen begins her speech by speaking about the history of encryption. Julius Ceaser would send encrypted messages by substituting letters and sending a private key to the receiver in order for the receiver to decrypt the message. This kind of practice is done to ensure that the messages stay private and secure.

Edward Snowden revealed that an increasing amount of government surveillance is taking place over the internet. As correspondence becomes more accessible, private keys to secure information becomes more pertinent.  

Hansen returns to beginning of the internet when the United States created a simple cryptography in order to secure their information. Because the cryptography was not complex it led to an insecure database. Ever since the early crypto walls were hacked the “crypto wars” ensued between the US government and crypto hackers. At the same time, the US government also made an effort to break through other encrypted messages sent by other countries and civilians.

“We know from the Snowden files that the NSA has set up its own operation target and they want to insert vulnerabilities into a commercial encryption system and also wants to influence standards and policies” says, Marit Hansen.

Hansen compares encrypted messages and the US surveillance to airport luggage being thumbed through by security. Airport security has created master keys to crack luggage locks. For this reason, cryptocurrency regulation will fail. A people who demand privacy will never allow the government to regulate cryptography so that they may spy on the people without their verification.

Hansen advocates for more cryptography, not less, in order that people may enjoy a government which does not act like Big Brother. Hansen concludes by encouraging people to use crypto to adopt this new form of security.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community.