A protocol for providing secured IO device and storage controller handshake protocol; IO device controlled cipher settings, and secured data storage and access in memory. An IO device requesting data transfer with encryption and/or decryption, requests session keys from the processor. The processor generates a fresh public-private key pair for the session. The public key is sent to the requesting IO device; the private key is momentarily saved by the processor for the session. The requesting IO device generates a secret key and its desired cipher setting; furthermore, encrypts the secret key and cipher setting using the public key, and sends secret key and cipher setting to the processor. The processor uses the private key to decrypt the secret key and cipher setting. The cipher setting is used for configuring the data processing core. The secret key is used for encryption and/or decryption of the data being transferred. All keys are not permanently saved.