this post was submitted on 29 Apr 2021
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Well, yes and no. Matrix is a protocol, yes, but it manifests as a cloud messenger, meaning all the messages are stored on all servers taking part in the conversation. Yes, if you use E2E, these messages are encrypted -- but that's by far not enough for these conversations to be considered "private".
So no, keys matter much, but they aren't everything.
What we need (and they seem to be working on this, as they do actually acknowledge the weaknesses of Matrix!) is true peer-to-peer conversation.