Cryptography Breakthrough

IBM Discovers Encryption Scheme That Could Improve Cloud Security, Spam Filtering

"A researcher at IBM reports having developed a fully homomorphic encryption scheme that allows data to be manipulated without being exposed. Researcher Craig Gentry's discovery could prove to be important in securing cloud computing environments and fighting encrypted spam."

I've seen it called "one of the most remarkable crypto papers ever" by a noted cryptographer.

Here are slides by Gentry for a presentation, Fully Homomorphic Encryption Using Ideal Lattices.