Why One Should Avoid The Cloud Hype
This entry has been updated (Feb 20, 2014)
Cloud computing is nothing more than a marketing term for technologies that provide computation, software, data access, and storage services that do not require end-user knowledge of the physical location and configuration of the system that delivers the services. (Source - Wikipedia)

Richard Stallman of the Open Source Software Foundation summed it up nicely in an interview with The Guardian “It’s a trap… It’s worse than stupidity, it’s a marketing-hype campaign.”
Here at home in Australia, organisations investing in off-shore cloud services could find themselves on the pointy end of legal action should the privacy of Australians be breached as a result, Victoria's acting Privacy Commissioner has warned
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