IT Departments often demonstrate a maddening trait when selecting data center solutions. They look at cloud, colo, and on-premises data centers as mutually exclusive choices. Going cloud means foregoing colo, and going on-prem means foregoing the rest. But IT workloads aren’t “one size fits all” propositions. According to Rock Crutchley, COO at Iron Mountain, “Legacy or custom-built applications can be critical to business continuity and are often difficult to migrate to the cloud. Furthermore, successfully identifying the workloads you want to migrate to the cloud does not mean they will get there overnight. Cloud migration takes time, planning and preparation.” Enter the hybrid solution.
“Hybrid IT architectures with colo as the foundation increase efficiency, lower costs, and mitigate risks when compared to environments with only in-house data centers,” wrote Crutchley in his recent Voices of the Industry article for Data Center Frontier. (Data Center Frontier). Colocation is the most logical venue for hybrid IT as providers also offer a wide-range of on-demand data center services and ecosystems that include in-market personnel for almost any resource gap.
It is important to choose a partner that can help you and your IT team navigate the choices --- including hybrid choices --- that meet your financial and service level goals.
Well, if the cat wasn’t out of the bag before this, it is now. On February 22, 2018, Bank of America made some startling (if not obvious) statements about digital currencies, including cryptocurrencies, in a filing provided to the SEC.
“Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies,” the bank said in the filing. “The widespread adoption of new technologies, including internet services, cryptocurrencies and payment systems, could require substantial expenditures to modify or adapt our existing products and services,” it said. “Emerging technologies, such as cryptocurrencies, could limit our ability to track the movement of funds. Our ability to comply with these laws is dependent on our ability to improve detection and reporting capabilities and reduce variation in control processes and oversight accountability.”
Cryptocurrency is at an interesting crossroads. On the one hand, crypto has outperformed even the wildest expectations for it as an asset class thus far. However, it will never perform to its full potential until it develops far wider acceptance as a payment method in the larger regulated economy. Instead of viewing cryptocurrency as a threat, larger corporations should be examining how they can be the first to bring this new, volatile asset class “mainstream”.