With cloud service providers getting wind of blockchain technology, you can look forward to a more secure future. Cloud technology uses encryption to store and transfer information. Encryption protects data from potential cyber threats, making the cloud safer than locally stored data.
5. Scalability
Cloud technology is able to handle the ever-growing amount of data that must be stored to meet users' demands without much change in pricing and availability.
The capacity of the cloud is almost unlimited. Thus, scaling up or down are equally viable options with cloud technology.
6. Globalization
Cloud technology can bolster business growth in developing countries given its global reach. Competitive players in the international tech arena extend reduced business costs while eliminating entry barriers and providing a technological advantage.
How Cloud Technology Brings New Opportunities To Emerging Economies
Emerging markets are characterized by many socioeconomic factors such as rapid economic growth measured by the national gross domestic product (GDP) or susceptibility to commodity swings. Brazil, China, Russia, South Africa, and Mexico are all emerging economies.
These economies tend to have traditional economies that rely on trade and agriculture. They seek to disrupt this dependency by investing in more stable and secure industries like technology. This is why many of these countries are renowned for their outsourcing talent.
