Comment Re:One simple question I wish were answered... (Score 2) 75
How would a cloud provider assure customers that their data will remain secure if they go bankrupt or just quit the business?
As of now, if a provider tanks, the servers go to the auction house, and in theory, are blanked. However, in reality, there is no assurance of that, and the buyer will get all data stored free and clear. If they wanted to do a multi-terabyte torrent of a failed bank's account and transaction data, they can, and nothing legally could stop them.
Like, a contract to escrow the cost of the wiping and/or returning of all relevant hardware to the original owner? There are plenty of precedents in contract law to mitigate risk in the case of bankruptcy. Just because you can't think of them doesn't mean they aren't there.