From BBC
Doesn't look good: for example, if you are a fireman, and your house burns down...
I know very little about such things, but I was wondering: was the 'encrypted key' literally a key - like the key to your front door? If so, it sounds pretty low tech, in a way ("Here's your key, Rupert. Don't lose it, or else we're in trouble").
Or was it some magic formula, and each of the 3 'trustees' was given 1/3 of the complete 'encrypted key', which sounds a bit like a second-rate science-fiction movie. There must be the temptation to scribble it down on a piece of paper, which makes it sound a bit Harry Potterish. Then again, you shouldn't lose the scrap of paper, then ("I've lost the encrypted key! I've lost the encrypted key! I left it on the train! On the train!").
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A firm considered one of the leading global voices in encryption has cancelled the announcement of its leadership election results after an official lost the encrypted key needed to unlock them.
The International Association for Cryptologic Research (IACR), external uses an electronic voting system which needs three members, each with part of an encrypted key, to access the results.
In a statement,, external the scientific organisation said one of the trustees had lost their key in "an honest but unfortunate human mistake", making it impossible for them to decrypt - and uncover - the final results.[...]
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