>> It's possible to come up with bad escrow mechanisms, which leave the key
>> vulnerable. That's just bad engineering, it's got nothing to do with HSMs.
>> However, a properly designed procedure with enough support from the HSM will
>> defend against this.
> 
> The same is true for systems that act like HSMs.

Indeed. So what's the difference between HSMs and "systems that act like HSMs"?

Robert

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