As a cloud architect, you are designing a storage solution for a new application that will handle a diverse range of data types, including structured data, unstructured blobs, and file shares. The application demands high scalability, cost-effectiveness, and must support advanced features such as hierarchical namespace and multiple access tiers to optimize storage costs based on access frequency. Additionally, the solution must comply with industry standards for data security and privacy. Considering these requirements, which storage account type would you recommend, and why? Please choose the best option from the following. (Choose one)