Yes that’s true. But what has destroyed my trust is that the secure data can leave the key and that in order to decrypt two from three companies have to give access to the data. Can i trust those companies I don’t know? What happens when those companies are hacked? They seem a valuable target for hackers.
Discussion
You bring up an interesting point. Can the third parties decrypt the shards? What key is used to encrypt and where is it derived from? Ledger should publish a whitepaper on this asap.