Economy and Finances In Cloud Computing

[Stalwart]

Economic and financial information should be moved to a place where it can be better managed and accessed for multiple purposes where "ownership access rights" of information can be allocated appropriately. Where degrees of "secret" can be categorized appropriately and access allocated based on rights and law.

The economic environment and financial accounting should be moved to Cloud Computing.

Once it is there and removed from the in house business physical location to the cloud environmant then many virtual things are possible.

Moving information to the cloud is the virtual information breakup of financial institutions to create a new model.

Once it is in the cloud then the government and other entities with a need or right to know can more easily claim and get rightful access to an amount of information by virtue that it is a trade gained as a bailout condition or inherent in investor rights.

"Strings Attached" is old school thinking about what the government should get in the bail out trade. That is control over what is done with the money or how it is done. What is needed is transparency, knowledge to appropriate levels of what is being done with the money and where it is located as a matter of national security and interest.

In the bigger picture, government must move its operations to the cloud for the same reason. To give transparency of information to those within government as well as citizens, which is President Obama's plan.

In the cloud it simply becomes a matter of rights of access to information and it is more accessible. No excuses about "different systems" usually meaning physical systems and networks that do not talk to each other.

Fundamentally it is a break out of right of ownership of the value of the financial instrument from the right to information about it. An access level control problem as well as identification of the data elements involved and who owns interest in them or right to them.

Info is being migrated to the cloud by business choice. It is becoming the best way to manage. The government should mandate it in the case of financial institutions. Once it is there it is a matter of claiming what information interests to who and to what degree of access they are assigned.

The change is where information resides in the network. To a great extent it is also a more compatible standards structure of financial information in the cloud that makes it more accessible.

That is big change. The future is in the cloud. Financial institutions seeking to protect the moral hazard opportunity might be the last to go their by choice. They have the most to lose in transparency. They should be the first to go into the cloud by mandate.

The cloud is a neutral and open third party needed in the information equation.

[hobbit709]

1. Say what?

[patriotvoice]

2. Agree. Open standards with well-documented API to facilitate intercommunication...

are needed such that access control, prioritization, and redundancy needs are supported in the process of information interchange.

Of course, banks are private businesses... and private businesses have the right to keep their information private, so long as they're treated like private citizens. This process begins when corporations are no longer treated like private citizens, that is with certain "God-given, inalienable rights such as life, liberty, and the pursuit of happiness."

[phantom power]

3. Data security is a cloud computing issue on my mind.

I expect there are adequate solutions to the problem, however clients must have a way to verify for themselves that those solutions are properly implemented and maintained.

[Stalwart]

4. Federal Reserve Cloud

Was the Federal Reserve Bank (established in 1913) a cloud computing model?