First when I read about the cloud computing buzz, i thought of it something related to the network intricacies. Then I read about it further, online and at various technical blogs, and realized it isn't the case.
People wrote about it from various viewpoints... risk transference, data integrity controls, handing over your confidential data to the big brother and so and so forth...
To get a grip of cloud computing you may want to visit Kai Axford's blog Kai is is a Senior Security Strategist in Microsoft’s Trustworthy Computing Group. His is the blog I follow regularly along with Mark Russionovich's.
From a hypothetical point of view, my view towards the cloud is that, it could eventually lead to layers of the internet. I had read about this when web 2.0 was coined. There were articles which first talked about it. Vint Cerf, the father of the internet himself opposed the idea and had said that the net was there to be free and available.
Building upon what I read then, I think in long run something along these lines will be implemented. We have cloud computing coming up, we also have the "red dog" - the cloud utility platform from Microsoft coming out. And we have SaaS (Software as a Service) & PaaS (Platform as a Service) too. Am just wondering what the ecosystem will be of all these technologies coming and fitting into a system!
On a lighter note, this parallel thing reminds me of Deepak Chopra's statement in one of his lectures about how parallely things happen in the universe, all of which contribute in their own way and lead one to another.
Right now, I feel, this as an attempt to unify access to data; bring coherence to all the parts (data, controls, service and providers); and also feel that this has been going around for some time now!
Perhaps we are right now exactly in the beginning of the next big techical leap!
here's the visualization; I guess everyone has seen the movie "Terminator 2", remember the scene when the T1000 walks in liquid Nitrogen, freezes up, and shatters to small pieces when Arnold fires at him saying "Asta-lavista-baby!" ... and then when temperature rises, all the parts starts melting down and joining to one-another, until the whole thing comes together in liquid on the floor and forms the T1000 back!..... i feel maybe this is the parts uniting stage, technologically!
Disclaimer: i might be wrong too.... ;)