Cloud computing is appealing from management and efficiency perspectives, but
brings risks both known and unknown. Well-known and hotly-debated information
security risks, due to software vulnerabilities, insider attacks, and
side-channels for example, may be only the "tip of the iceberg." As diverse,
independently developed cloud services share ever more fluidly and aggressively
multiplexed hardware resource pools, unpredictable interactions between
load-balancing and other reactive mechanisms could lead to dynamic
instabilities or "meltdowns." Non-transparent layering structures, where
alternative cloud services may appear independent but share deep, hidden
resource dependencies, may create unexpected and potentially catastrophic
failure correlations, reminiscent of financial industry crashes. Finally, cloud
computing exacerbates already-difficult digital preservation challenges,
because only the provider of a cloud-based application or service can archive a
"live," functional copy of a cloud artifact and its data for long-term cultural
preservation. This paper explores these largely unrecognized risks, making the
case that we should study them before our socioeconomic fabric becomes
inextricably dependent on a convenient but potentially unstable computing
model.Comment: 6 pages, 3 figure