[TheLoneWolfling]

Homomorphic encryption isn't fast enough... yet. But it's getting faster!

It will be amazing if/when we get to the point where you can have a virtual server where you know that the person with physical access to the server cannot access your data.

Even if it is two orders of magnitude slower than raw hardware that's still fast enough for some things. (For example, being able to have a username+password -> personal info database safely run on someone else's hardware.) And once it takes off there probably will start to be hardware support/accelerators for it - like vector intrinsics and AES instructions currently.