:::entrust their data to some unknown and unmonitored external entity such as the 'cloud'.
Do you really consider Amazon Web Services unknown and unmonitored?
The granularity of what they can report on shows their monitoring capabilities are quite sophisticated. :::Until that time, safe and productive cloud computing is just a fantasy. It's a solution in search of problem. Avoid it.
I think the facts speak for themselves. There are thousands of examples of safe and productive instances of cloud computing,
But there are also tens of thousands of examples of insecure and unproductive instances of cloud computing,