The cloud is here, and it is here to stay...
Having worked in the outsourcing business for some time it is quite entertaining to see how the marketing folks sell you the same old car over and over again, just by changing the sales pitch. What I am trying to say is that the cloud is just a collection of technologies that already existed before, being sold as part of a regular outsourcing deal: Virtualization, data centers in cheap labor countries, and network capacity are nothing new. But what are the risks?
Many of the cloud solutions had outages according to various websites tracking these outages. Leaving sometimes customer with a total loss of data (E.g. T-Mobile's Sidekick outage).
Other times your privacy of your personal or business data is at risk (E.g. Health care records stolen).
Reading through the fine print (see screenshot) of some of those cloud based services, you will notice that you just provided them with the permission to circumvent the local law. Agreeing to have your data stored "somewhere", where the laws of the country your reside in, might or might not protect your data.
Read more:
Cloud Privacy report - World Privacy Forum
Top-10 cloud outages in 2010
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It is hereby granted to Copy/Link/Quote material found on the 1SSA Blog, but only(!) when a reference to the 1SSA site or this blog is being made.