I want to convert my PC as application server and allow multiple users cloud based access of installed application and disc space. Is there any free application, service and guide available to do the same?
Becoming a sysadmin requires knowledge in many areas, however SEARCHING is one of the easiest. I don't understand that reluctance to search first.
There is no simple answer to your question as it requires finding the right distribution, setting up a web server, finding the appropriate cloud platform, configuring the web server, etc.
Create Your Own Cloud Server With Linux
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