The cloud is the new Wild West and the need for regulations is desperate. The lack of regulations hinders the growth of the industry. Major players, such as Microsoft, acknowledge this and ask the governments to do their job.
It is strange when a private company, especially one of the largest corporations in the world, wants more government regulations, because private companies usually favor the least possible interference from the state. However, when business suffers from the lack of regulations, even the most devote free market supporters will admit that governments need to interfere.
Why Governments Should Regulate the Cloud?
Cloud computing is not a private business. Its impact on technology and society as a whole is significant. Cloud computing generates revenue, part of which governments collect in the form of taxes. The estimates are that in Europe alone, cloud computing could bring 763 billion Euros in the next 5 years.
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Source: cmswire.com
By: Tsvetanka Stoyanova
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