Survey Insights: The Future of The Cloud

In our modern world, the all-encompassing Cloud has become the central beacon for our data. Whether you're working on a project in Google Workspace, creating a blog post in HubSpot, or backing up that precious photo of your furry friend, the Cloud has woven itself into our daily lives. However, the Cloud has quietly undergone a transformation from the luscious Cumulus we all know and love to a weary Mammatus.

You may be asking yourself, how many people actually use the Cloud? How do they use it? Are they aware of the risks? Would they be open to a decentralized alternative? Okay, maybe you aren't asking those questions, but we were, so we set out to gain some additional insight. We recently surveyed 181 participants about their Cloud usage, and here are the results!

Current Cloud Usage Trends

First and foremost, we wanted to gauge how many people are already using cloud technology in some way. What we found is that a whopping 89% of participants reported to be already using it, with 5% reporting they dont use it and another 6.1% reporting that they weren't sure.

While these numbers are undoubtedly impressive, they're not entirely unexpected. Between 2010 and 2020, the global cloud computing market skyrocketed by 635%, jumping from $24.63 billion to $156.4 billion. By 2029, that number is expected to jump to a staggering $376.36 billion globally. (AAG) This growth is primarily driven by business customers, with an average of $8 out of every $10 spent on IT being funneled into cloud services. (Precedence Research, McKinsey)

Fun Fact: It's anticipated that the cloud market will host more 200 zettabytes of data by 2025. That's enough storage space for over 166.67 trillion copies of Halo: Combat Evolved!

Market Drivers

While it's clear that the Cloud is continuing to grow at an unprecedented rate, we wanted to gain some additional insight into why and how users are using the Cloud. Specifically, we wanted to hear from everyday users. The results: Cloud Storage (80.7%) and Cloud Backup (59.1%) remain the most common use cases by far, with SaaS (34.3%), Paas (22.1%), Cloud Computing (18.8%), and IaaS (15.5%) following suit.

Further analysis by Market Data Forecast also highlights that this growth is being driven by a growing demand for cost-effective data storage, the rise of unstructured data, and the integration of AI and the Internet of Things. However, data security remains a significant concern when it comes to the Cloud, with the number of cyberattacks continuing to increase year over year. For example, between September 2022 and September 2023, over 4,608 data breaches were reported in the US, with over 5 billion affected records (5,283,133,090, to be exact). (Privacy Rights Clearinghouse, 2023)

As the number of data breaches continues to rise, it raises questions about the security and privacy of user data. In 2024, National Public Data reported a massive data breach that included 2.9 billion records (277.1 GB) containing Social Security numbers, names, addresses, email addresses, and more. As more of our data is collected online and stored in centralized data centers, the frequency and severity of data breaches will only continue to grow, highlighting the urgent need for decentralized alternatives.

Centralization

While the Cloud is still relatively safe, it's not without risk. Today, the market is dominated by just three industry giants: Amazon (31%), Microsoft (25%), and Google (11%). (Statista) This growing centralization raises concerns about data security and privacy. In fact, 82% of data breaches involve data stored in the cloud, with the average cost of a data breach reaching a staggering $4.75 million. (IBM)

With this in mind, we wanted to gauge how our respondents felt about this growing centralization. We found that 60.8% of them expressed feeling nervous or anxious, fearing potential vulnerabilities. Meanwhile, 21.5% felt confident about their data's safety, and 17.7% remained undecided. But why should we care?

Data Breaches

Simply put, the cloud is nothing more than a network of massive data centers scattered around the world. As centralization increases, these data centers will continue to become even larger targets. Although cyberattacks are certainly a risk, the primary cause of data breaches is actually human error. A recent Stanford study reveals that 9 out of 10 breaches occur due to human mistakes, with 86% resulting from stolen or compromised credentials. (Verizon)

These breaches often stem from successful phishing or social engineering attacks, procedural lapses, lack of expertise, or simple carelessness. At the end of the day, we're all human, and humans make mistakes. However, the more data we centralize with these three giants, the more catastrophic these errors can become.

Furthermore, as we continue to increase our reliance on Cloud services, we inevitably opt to store more sensitive information, such as health data, financial data, and social security numbers. In fact, IBM recently found that 52% of all breaches involved compromised sensitive customer data, up 5% from 2022, and that 40% of all breaches involved compromised sensitive employee data, up 26% since 2022. (IBM)

When asked about whether or not they had been impacted by a data breach in the past, 69.1% of respondents claimed to have been affected, while 30.9% had not. This is higher than a recent RSA report that showed 45% of Americans have had their personal information compromised by a data breach in the last five years. (RSA)

The Future of the Cloud

So, what does all of this data tell us? For starters, the Cloud is here to stay thanks to its ease of use, low costs, and security features. However, it also uncovers a looming storm that will inevitably lead to more frequent and damaging hacks and breaches in the future. While Cloud options may be cost-effective for business now, that $4.75 million price tag you receive after a data breach will surely counteract those savings. So, where do we go from here?

Pensamento Cloud

The answer: Decentralization!

(I know, I know, who could've seen that coming?)

By switching to decentralized alternatives, users can ensure their data remains inherently protected against data loss, hacks, breaches, and even censorship. How? Cut out the middleman, remove the data centers, and store your data across a global network of individual contributors.

Here's how it works. Let's say you want to save that important pitch deck for a meeting with your boss tomorrow morning. When you upload it to Pensamento Cloud, the network will split that file into 4KB chunks, encrypt it, and send each chunk to a different storage provider anywhere in the world. This way, even in the unlikely event that a storage provider is compromised, all the hacker will find are small bits of encrypted data, rendering it completely useless and keeping our data 100% safe. You pay the storage providers directly, and they must prove to be holding your data before being rewarded. Then, when you're ready to present your pitch, the network will grab each bit from their storage providers, reassemble the file, and pass it along to you.

The best part? Pensamento Cloud is part of the Pensamento Ecosystem, meaning users can take advantage of our advanced blockchain with secure cryptographic algorithms and even pay storage providers through a seamless, easy-to-use platform. Costs will remain low, roughly $0.2 per GB, and data integrity, security, and privacy are built-in.

But what about the human aspect? How does Pensamento Cloud protect against that? Well, the Pensamento Ecosystem is powered by our Native Smart Accounts, essentially turning every user account into an individual smart contract, unlocking endless possibilities! Simply put, if you can code it, you can do it.

Examples

• Enhanced Data Encryption: Pensamento Cloud offers state-of-the-art encryption that keeps your data secure. By using advanced encryption protocols, Pensamento Cloud ensures that even if data were intercepted, it would remain unreadable without the appropriate decryption keys, giving users confidence that their sensitive information is protected at all times.

• Collaborative Tools: Working together has never been easier with Pensamento Cloud. The platform provides real-time collaboration tools that allow multiple users to work on documents simultaneously by connecting to one another directly. Whether you're editing a project report or brainstorming ideas, Pensamento Cloud keeps everyone on the same page with seamless updates and version control.

• Secure Sharing: Pensamento Cloud's encrypted sharing feature allows you to share files securely. You can send documents to colleagues or clients with confidence, knowing that the data is protected by encryption and only accessible to the intended recipient. You can also set access permissions and expiration dates to maintain control over your shared content.

• Automatic Synchronization: Pensamento Cloud automatically synchronizes your data across all devices. Whether you're working from your desktop, tablet, or smartphone, you'll have access to the latest version of your documents without needing to update files manually, ensuring that you have what you need when you need it, no matter where you are.

Here at Pensamento, we're on a mission to address these concerns through the world's first Web4 ecosystem. Comprised of a fully decentralized blockchain, cloud, and cryptocurrency exchange, the Pensamento Ecosystem is designed to power the next generation of the Internet. Thanks to its innovative design and native smart accounts, users and developers can leverage the ecosystem to create seamless and personalized experiences like never before without compromising security, privacy, and individual autonomy.

When asked whether or not they would use a fully decentralized Cloud alternative that was easy to use and kept data safe against hacks, breaches, and censorship, 88.4% of our respondents said they would consider using it over traditional Cloud platforms! The future lies in decentralization, and as more of our lives become connected, data security and privacy become evermore important.

Web4 isn't just a buzzword; it's the future we deserve, where everyone's rights are protected, and unconditional freedom is paramount. To learn more about Web4 or our mission here at Pensamento, please visit our website at www.Pensamento.io or read our deep dive into Web4 here.