Why do I believe this is so fundamentally flawed? Let’s start with WannaCry and work backwards. The massive dump of NSA and CIA hacking tools earlier this year exemplifies the error of the governments’ thought that public privacy and security can be safeguarded while those governments maintain back doors to encryption.
If one of the most advanced technological super powers cannot keep its own cache of hacking tools and methods from being released into the wild, you can be assured that every hacker on the planet will endeavor to get their hands on access to decryption keys.
They other flaw in this ideology is it ignores end-to-end encryption – where data is encrypted at the source and decrypted at the destination. When it comes to securing data, there are many ways to skin that cat. There just isn’t a one-size-fits-all solution. Let’s also not forget that these governments also use encrypted communication with intelligence assets.
Finally, the few ideas that government intelligence agencies have floated require 100% compliance from all players. That just isn’t going to happen.