Piers Linney, co-founder and CEO of cloud services and unified communications company Outsourcery, believes that it will take the cloud between five and 10 years to fully mature.
In an interview with Computing, the entrepreneur, who has just joined the BBC's popular business programme Dragon's Den, said that there were still some instances in which the cloud would not make sense for a business.
Camelot's IT director, Neil Kellar, for example, had told Computing that the company was still waiting to see what "enterprise class cloud" looks like, stating that it was not yet mature enough for Camelot to consider - and Linney agreed.
"For Camelot, they have a bunch of servers running a website and a lottery system, which is there to do one thing, so for them it makes sense [not to move to the cloud]. But in five, six, seven or 10 years could you lift that up and put it on a secure platform that can offer you the same SLA [service-level agreement] - I think you probably could," said Linney.
"NHS records could also be put in the cloud. If [service providers] can deliver a service which is IL3 accredited for central government then that is good enough," he added.
He went on to suggest that Camelot could use a proprietary automated trading platform instead.
"It's a question of return on investment. It might make more sense financially for Camelot to build a bespoke system just for that one business. However, all of Camelot's email, unified communications, and test and development servers can move to the cloud," he said.
Linney then went on to claim that even companies within the financial services sector will want to turn off their test and development environments soon, suggesting that they would eventually move it all to the cloud where they would only need to pay for what they use.
What holds many organisations back, he said, is their "paranoia" about the cloud.
But he pointed to web giant Amazon being selected to build a cloud for the CIA as evidence that even organisations with sensitive data can and will turn to the cloud.