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Is it possible to configure cloud without virtualization?

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linux-howto

http://serverfault.com – I have learned that cloud computing provides computation, software, data access, and storage services and virtualization is mandatory for cloud computing. I have also found in some places that there are some differences between cloud computing and virtualization. my questions are: Is virtualization mandatory for cloud computing? what is the differences between cloud based software services and traditional software services? (HowTos)