I'd argue that a far better solution is improving security requirements and developing better procedures. Hacks in many ways incentivize companies to invest in

I'd argue that a far better solution is improving security requirements and developing better procedures. Hacks in many ways incentivize companies to invest in their security. Also, if you prohibit paying ransom nothing will probably change. Hackers will continue to steal data, they will just sell it like they always did. Sure they will target now companies that have more valuable data, but the big picture won't change.