Joan Daemen, Principal Cryptographer, STMicroelectronics. With the advent of cloud computing, smart grid, internet of things and the emergence of e-cash such as bitcoin on the one hand, and the Snowden revelations and many password database hacks demonstrating the miserable state of cybersecurity on the other, one might expect to find improvement of cryptographic key management high on the agenda of businesses worldwide. A look at reality reveals the contrary. The multimedia industry and even the payment sector is massively rolling out apps and software relying on snake-oil such as white-box cryptography. Short-term strategies of decision-makers favor getting the business first and then (maybe) adding security later. At the same time, the smart card industry tortures itself with heavy certification procedures and overly complex specifications. In this talk, I will try to give some hints on how we could escape this vicious circle.