Building a Trusted Cloud Ecosystem: Part 2
Given these fears it is perceived the risk far outweighs the benefit of cloud. There is hope however on ways these can be overcome. There are lessons to be learned from different industries, which have mature practices. Let us study some of them.
Banking - "Do you ever wonder when you deposit your savings at the bank that the bank will not give it back"? Until the financial crisis hit us, we did believe the bank would honor its commitments. We had our doubts for some time. But we have not stopped using banks.
The reason we are doing this is because there a governance over the and above the financial institution. The financial institutions are reviewed, audited, measured and rated by independent agencies. This has led you to believe that what you deposit is in safe hands (this is assuming you have not taken undue risk for high returns). [example borrowed from Vishnu]
The same applies for cloud. Common standards and stringent certification requirements, are needed to ensure that cloud is interoperable, secure, audited and vendor independent. These certifications will give a sense of indirect control and visibility.