Cloud Computing and the USD
Cloud Computing and the USD
In the 1970s the United States was embracing technological advancements on a grand scale, and they were being incorporated into every facet of the government and its subsidiaries. One day at NASA there was a malfunction in which a famous children’s TV show character spontaneously appeared on computer terminals and then prompted the user for a “cookie.” After this prompt was inaccurately adhered to NASA computers crashed and there were losses both financial and intellectual in nature. After this attack it became apparent that the premature implementation of technology that was not fully understood was foolhardy. At this point very comprehensive, and expensive revamping went into the computers systems used within the US infrastructure. Despite this failed attempt the United States government is again utilizing a technology that could compromise it only many levels.
Financial accounts, markets, and other institutions could very easily find themselves open to cyber attack, and the consequences for the USD on the online forex exchange will be severe.
The technology in question is known as “cloud computing”, a practice in which everyone’s data is stored on one of very few central “hubs.” The United States is following this plan in the pursuit of cutting down on their costs; however, by attempting to save money there could in fact be severe losses on the horizon. Recent cyber attacks have claimed the functionality of not only private websites as of late, but, also a number of government systems have been compromised. The move to cloud computing would make these systems even more vulnerable and bring about serious consequences for the country.
If banks and, say social networking existed within the same cloud…on the same relatively-local network how long until someone finds a way in? While security within a cloud network is possible there has not been enough time and investigation applied to this technology yet.
If cloud computing fails then the US economy and US dollar will experience a good measure of turmoil. This is going to probably erupt into a series of cyber attacks that no one has seen before, and a total lack of consumer confidence from their consumer data being compromised. There is going to be a lot of fear where various e-commerce sites are concerned, and once the vulnerabilities have been proven there will be no way to convince the public everything is alright. The US economy stands to lose a great deal if cloud computing is embraced prematurely for any reason.
The author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to stay up to date with the latest forex quotes.