Governing economic growth in the cloud
Grazed from Phys.org. Author: Editorial Staff.
Gross domestic product (GDP) can be boosted by cloud computing, the system in which remote computers on the Internet are used to store, manage and process data rather than the users’ local machines. A report to be published in the International Journal of Technology, Policy and Management suggests that governments should collaborate to boost the adoption of cloud computing internationally. Marco Iansiti of Harvard Business School and Gregory Richards of Cambridge-based Keystone Strategy, LLC, have found that cloud computing is likely to extend economic growth by increasing the efficiency of information technology in developed economies and could foster growth in those economies where IT penetration is not yet fully mature.
"Cloud computing is a further evolution and integration of server, internet and personal computing technology. It is a paradigm that pushes the three driving forces of power, accessibility and economy of scale beyond present constraints," the researchers say. They point out that during the coming decade cloud computing will give individuals and enterprises access to a vast processing power at a low cost that has not been possible before. The team has now developed a model to link IT capital investment to economic growth and applied their model to 45 countries…


6fusion, a startup focused on “cloud” computing services, has raised $2 million in new financing and hopes to land another $2 million. The Raleigh-based company, which is backed by Intersouth partners, secured the new money a mix of debt and options financing and aims to raise $2 million more, according to an SEC filing on Nov. 13.