Hmmm... stash uses standard git storage methods to store your repositories on your configured storage location. The repositories are stored as bare git repositories within the path configured in your %STASH_HOME% environment variable on your STASH server - and are to be accessed via STASH-Webinterface (the name of the repos are stored within database).
As this server-stored repositories are to be accessed via STASH-Webinterface only and STASH offers a sophisticated right-management and the STASH-server should be secured anyway - what's the additional benefit of encrypting the code? (as you are the owner and administrator of the STASH-server)
Nevertheless - the git-repositories on the Stash-Server are stored within folder %STASH_HOME%\shared\data\repositories on your STASH-Server (the repository names are numbers - the mapping from number to true repository name is done via STASH-database. You can see the mapping within the properites of your repository within the STASH-Webinterface)
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