Otherwise, there'd be plenty of services competing with Drive, DropBox, etc, that did just that.
Otherwise, there'd be plenty of services competing with Drive, DropBox, etc, that did just that.
There is no other way. Unfortunately, there has been a serious lack of r&d in this area, so we have a lot of catching up to do. I believe it can be made to work, though, because this is not entirely a new idea for most people: they already understand physical keys and the problems associated with losing them.
Moving to digital (public-)keys isn't a perfect match, but it is entirely possible to leverage the skills and experience that people already have. For example, contrary to the advice used a decade ago, Schneier recommends[1] that people write down their passwords (avoiding the memorization problem). This can provide good enough security most of the time, because people already understand how to provide security for their wallet.
Incidentally, I always liked the basic idea of the Java Ring[2]. It was basically a fancy (for the time) smart card, but the idea of storing the chip in a ring is an attempt to make security management personal, which is an idea that had potential.
[1] https://www.schneier.com/blog/archives/2005/06/write_down_yo...
[2] http://www.javaworld.com/article/2076641/learn-java/an-intro...
edit: forgot a link
You can't do this with digital keys because a digital key that is weak enough for this strategy to be usable is also too weak to protect you from the main class of attacks it's supposed to be protecting you from.
In the digital world you have Shamir's Secret Sharing. Generate a non-encrypting, non-signing, decode-only key and give a N-th of if to N escrow services. If you lose your key you contact M of those entities and recover the data.
Plenty of tricks have been created in the last two decades to address the problems associated with key ownership, the problem is always the lack of UI and of standardization in general.
Store your N'th fragments with /friends and family/ that you know well. You might also be able to get in on distributed backups together.
If the stuff being protected by the key is, for example, the type of data that someone would otherwise keep in a personal fire-safe, then simply printing out the keys and keeping them in that fire-safe wouldn't change the type of security being provided.
It might be nice if we had some type of highly-reliable (like the redundancy in QR codes[1]), so the process of printing out a key and re-scanning it was easy and trustworthy.
Well, we can always legislate. Even with encryption of data, you want legislation. Without legislation, the Government will just create a separate channel for data collection to bypass your encryption. It starts unencrypted at the remote site, so it's not that hard to do.
Even with legislation there will be problems, and overstepping, but at least then there's some semblance of recourse and ways to fight. You can't fix the problem for everyone and always, but you can fix it for most people most the time. This is the sort of thing that should be in trade agreements and treaties.
Depending on your target market, that can be a selling point. Tell them early and tell them often that you don't keep copies of their keys and if they lose them, they won't be able to access the information. Remind them to make backups.