The device may have proprietary software on it,
but the encryption itself if not proprietary,
and you don't want it to be proprietary.
Proprietary == untested, unproven. Reverse
engineering has often proven to be the downfall
of proprietary encryption algorithms.
The best encryption algorithms are those that
are tested and proven under the scrutiny of the
larger security community and the general
public.
Ironkey uses 256 bit AES, which is tested and
found to be very strong. Even though it's a
publicly available algorithm, there's yet to be
found a major weakness. That says a lot about
the security of the algorithm.
Note that the weakness was not the encryption
itself, but rather terrible handling of the
encryption key. AES itself wasn't broken.
According to Ironkey, their devices have been
checked and don't have that vulnerability.
https://www.ironkey.com/usb-flash-drive-flaw-
exposed
https://www.ironkey.com/hardware-encryption
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