Software giant Microsoft has told the EU that it needs to sort out the laws regarding cloud computing.
El Volista wants the EU to harmonise rules governing cloud computing, where data is stored remotely and promises that it manages to do so it will give the bloc a competitive advantage.
John Vassallo, Vice-President of EU Affairs at Microsoft said in an interview with Dow Jones Newswires that Vole will come up with a legal proposal to show the EU in summer. If the EU agrees it could be law by the end of 2012.
The Imperium does not like the way that different EU countries have different rules on areas such as data protection.
Rules about the length of time and amount of data that can be stored varying greatly between member states. This makes it difficult to run cross-border cloud computing systems.
Vassallo said that in the future data will be currency and it needs to flow just like cash. Vole admits that it needs regulation too.
Apparently if you don’t regulate, you get less trust and then you end up having difficulties, he said.
There are high stakes at play here. A paper by the University of Milan’s Federico Etro estimates that an environment designed to benefit cloud computing would contribute 0.2 percent to the annual growth rate of the EU. This works out to about million new jobs through the development of a few hundred thousand new SMEs.
Microsoft is blowing 70 percent of its $9.5 billion R&D budget on cloud computing systems.