It has been rumoured (I guess it is more than a rumour) that senators Burr and Feinstein will be introducing legislation requiring companies to provide the government (with warrants) access to encrypt material. So, one could maybe expect the government to require that companies keep a masterkey that can unlock all encryption. We don't have the exact language of the bill yet, and the White House might even oppose the bill already.
But, I am a bit confused about the implications of such legislation. While I understand that one can require Apple, Facebook, Google, etc. to basically implement backdoors in the encryption scheme, what would such a policy mean for encryption?
Would it, for example, be reasonable to assume that such legislation would basically ban strong encryption? There are so many programs out there that has implemented various strong algorithms (like PGP). Is the consequence of such legislation only that the default encryption used on, for example iPhones will have a backdoor?
Is it even practically possible to outlaw all strong encryption?
To be clear, I am not asking about whether or not one should support such restrictive measures. I am only interested in what the implications of such legislation would be.