One of the more interesting angles was around the important of security policies in the cloud. I made the point that:
"Policy based controls are essential for sensitive data in the cloud. Otherwise you are at the mercy of the operator. And it's not just encryption, it's all about controlling the access to the data item, regardless of format or location."
@andriven made a great point about policy via encryption: "u can't actually delete data in the cloud... but you could do pretty granular encryption...deleting the keys guarantees the data is inaccessible"
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