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Privacy is more than just security. Privacy requires that the end-user can fully protect and control their information, particularly if it is sensitive or confidential. Lockbox addresses the "cloud privacy" problem by empowering end users to protect their information (using encryption) and control who has access to it (using keys).
Most secure file-sharing services concentrate their functions server-side and resemble a secure website. In doing so, these services necessarily require great effort in terms of technology, processes and procedures to "lock-down" user information. Despite best efforts, this approach will always run the risk of "leaks" such as data breaches, accidental or malicious disclosure, secondary market resale or interference by system administrators who have means to override the system they look after e.g. passwords, access controls, encryption keys, network monitoring etc.
While most "cloud" services are pushing control and processing into the "cloud" (server-side), Lockbox is doing the opposite and empowering the end-user with the means to protect and control their information (client-side). The differences are broadly illustrated in the following diagram.

The Lockbox approach is to make use of client-side technologies, rather than just server-side processing. In essence, Lockbox is able to lock down the information itself (using encryption), rather than trying to completely lock down the system that “transports” and “stores” the information.
In the above diagram:
The Lockbox approach is winning favour with customers who have been reluctant to "move to the cloud" because of concerns about privacy. Understandably, cloud computing introduces risks in that the cloud provider has mechanisms to override user controls and access user data.
This then leads to the notion of "private file sharing" which is an extended type of "secure file sharing". The difference is that private file sharing ensures that no intermediate third party can intercept or access user-data (similar to peer-to-peer networks) but always accessible regardless of whether communicating parties are online or not (similar to storage services).
Lockbox offers a unique privacy solution with the following advantages: