You're totally right in saying the number of developers who are actively integrating encryption is pretty small as of today. What we're trying to do is improve developer experience to a point where encrypting all sensitive data is a no-brainer. Still early days here, but we're expending a lot of energy to make this happen.
Re: third-party dependency — we think the same way at Evervault. We bring third-party vendors into the mix if we think they can build something better than we could do ourselves, which is why we partnered with AWS on their Nitro Enclaves[0] product. Our root of trust is the AWS Nitro System. For customers who still aren't comfortable with us managing their security posture, we also offer on-prem and in-VPC options.
Also being in the EU the first thing I look at is where the company is based and/or where they host my data, but I've trawled through this site and cannot seem to find a company address anywhere or details of their hosting setup? Nor is there a single "Security" page which outlines their credentials and security measures. I feel like these are critically important for a business like this which needs to build trust with potential customers.
The website design looks superb though and the product is definitely interesting.
EDIT: Ah noticed on the jobs page that they're in Ireland, but looks like their app front-end is hosted on Vercel and (per below) backend on AWS.
EDIT: And further confusion from the "Evervault Inc" in the footer and "Evervault Ltd" on Privacy Policy page. I'm not clear if this is an Irish company (and therefore covered by EU law) or a US company? These details are important for potential European customers.
Definitely still needs an exec summary "Security" page though with a callout to relevant blog articles if necessary.
Is it easier to use than setting up a Vault cluster? Yes, without a doubt, so for building new things as a single developer, it definitely has a market.
It would be more difficult on larger businesses though, since they have internal processes & certifications, that now need to rely on a 3rd party.
If you have applications that run in the field, and need to perform computation on data you don't want to be seized if the adversary gets hold of the device itself (state or private agents), then this may be a relatively low cost way to address this concern.
If you search for a solution for all possible threat models, well homomorphic encryption would all the boxes except it's too slow for doing anything practical with it.
There are scenarios where you can compute on encrypted data and produce a result that doesn't leak the entire data.
Evervault Cages
Process the data you encrypt with Relay or our SDK by deploying your code in Cages — isolated serverless functions hosted on Evervault.
Cages automatically decrypt your data in an isolated environment, so you can still process data without handling it in plaintext.
perhaps I misunderstood what that feature is; if that's true I suspect it's not entirely my fault, but there is something misleading in the product description.I believe what you're referring to is homomorphic encryption.
large enough to warrant a crypto-currency: https://build.scrt.network/To answer your question: "market for encrypting data" is infinite but in reality that's not really a market since encryption is a concept and not really a product.
The markets that do exist are: * GDPR & CCPA compliance (think OneTrust) * Data Residency (think Cloudflare) * Data Security as a Service (think Okta/Auth0) * Customer Data Management (think CRM)