Re: Data protected overseas? Expect a massive migration toward EU cloud facilities.
That is a great article, overall the IT industry faces many problems that are related to globalization (which is a good thing) and due to the nature of the IT sector -- this sector becomes the first sector to be presented with a situation before any other sector has to deal with a similar situation.
Economically, both options seem to be lowering US firm's competitiveness i.e. on the one hand data should be handed over, this will create a situation where firms that have their HQ elsewhere in the world are more competitive because businesses will take up their service and on the other hand, if zero-knowledge encryption is utilized then IT firms will not be able to aggregate data and earn some extra revenue.
And, narcotics are also not good for the economy or society -- interesting dilemma.