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This is some tinfoilhat stuff. An extreme suggestion that a cloud provider would physically open up machines and exfiltrate the keys so that they could then read the memory of a customer workload, for what reason? Remember that hardware is virtualised and makes it difficult to pin point which server is running what. Not using such tech makes it easier for the cloud provider to inspect memory so that is not a better approach.

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If you argue that you can trust the cloud provider not to be malicious, you also just argued that you don't need SGX at all. No tinfoil hat required.

And yes, not using that tech is not a better approach then, but not worse either. But better in the way that Intel doesn't need to build convoluted shit into their cpus that might actually worsen security through exploits.

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