Money makes the world go around - it certainly does, for better or worse. NSA spying revelations grabbed attention from most of us, but the real concern seems to be the money that US cloud storage providers might lose because of a lack of trust in a system that appears to be no more secure than the whims of the Federal government allow.
Spying by the NSA could cost the US cloud computing industry between $22bn and $35bn over the next three years, according to Washington think tank, the Information Technology and Innovation Foundation (ITIF), whose website happens to be down this Tuesday morning.
In a report entitled "How Much Will PRISM Cost the US Cloud Computing Industry?" ITIF analyst Daniel Castro predicts that "the disclosures of the NSA's electronic surveillance may fundamentally alter the market dynamics" for US cloud companies in Europe and elsewhere.TheRegister