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ANSWERED January 2010:
As much as Web 2.0 and cloud are getting the spotlight I still believe that we haven't gotten our arms around the basics of Web security. Be it OWASP adoption, integrating security in the SDLC, or getting developers/QA staff the proper security training we've still got a long way to go. Unless and until we can address the basics with input validation, securely logging in users, and controlling who can do what/where inside the application we're not going to be able to move on to the next big thing and feel good about it.
While no one could claim to a completely accurate estimation of what the future has in store for Web 2.0 applications or their security, I strongly suggest that serious developers for Web 2.0 applications keep their understanding fresh and relevant. To help you build and maintain these skills I have assembled a list of helpful tips and tutorials (located below) on Web 2.0 applications.
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