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KMS allows you to encrypt/decrypt data without ever seeing your master keys. It makes managing encryption keys simpler because there's nothing you can do that can allow you to leak the master key.
They can also manage the choices of encryption algorithm, and the mechanism for upgrading algorithm choice. So these decisions are made for you so you can't ...
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It's probably not a security issue. For context, think about open source software. When you have an open source application, the application source code and database schema are completely public; anybody can take a look and review them in as fine a detail as they care to. Organizations stand up and run instances of that very same open source software all ...
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