Data Better Off in Web 2.0 Services?

Here is an interesting article from Techcrunch UK talking about the state of networking computing and service-oriented client today. Network computing has really gone a long way from Ellison’s Vision. With the advent of Web 2.0, the world finally has a place to move their data into the Network. The most interesting part is the analogy by Google’s Eric Schmidt.

Fundamentally, it’s better to keep your money in the bank than in your pocket.

Now this statement really rings true! Of course, there are fundamental differences between Google’s Web 2.0 applications and The First National City Bank of New York. However, it is true that a bank is better at keeping money that ourselves. With this analogy, some web applications and services should be better at handling data that we are. I could imagine the possible failures that can occur when managing ones own data such as hardware failure, data corruption and others. Maybe if Web providers gave “bank-grade” guarantees then we might be better off putting our data in their capable hands.

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