It's been a long time coming and the time has finally come the Ps Vita has finally been granted full system access through an exploit dubbed HENkaku.the developers of the exploit had this to say "HENkaku simply lets you install homebrew as bubbles in LiveArea. It is a native hack that disables the filesystem sandbox. It installs molecularShell, a fork of VitaShell that lets you access the memory card over FTP and install homebrew packages (which we create as VPK files). With vita-toolchain, developers have access to the same system features licensed developers have access to as well as undocumented features that licensed developers cannot use (including overclocking the processors),"
