The greatest hardware hacks of all time were simply the result of finding software keys in memory. The AACS encryption debacle — the 09 F9 key that allowed us to decrypt HD DVDs — was the result of encryption keys just sitting in main memory, where it could be read by any other program. DeCSS, the hack that gave us all access to DVDs was again the result of encryption keys sitting out in the open.
Because encryption doesn’t work if your keys are just sitting out in the open, system designers have come up with ingenious solutions to prevent evil hackers form accessing these keys. One of the best solutions is the hardware enclave, a tiny bit of silicon that protects keys and other bits of information. Apple has an entire line of chips, Intel has hardware extensions, and all of these are black box solutions. They do work, but we have no idea if there are any vulnerabilities. If you can’t study it, it’s just an article of faith that these hardware enclaves will keep working.
Now, there might be another option. RISC-V researchers are busy creating an Open Source hardware enclave. This is an Open Source project to build secure hardware enclaves to store cryptographic keys and other secret information, and they’re doing it in a way that can be accessed and studied. Trust but verify, yes, and that’s why this is the most innovative hardware development in the last decade.