Hello Chris, I think you presume by "the cloud" that a third party may design and/or operate a banking system in a much better, cheaper and safer way than a bank will run functionnaly equivalent legacy systems on its own datacenter. It may be true, and it represents a form of IT outsourcing, to use a previously trendy acronym. Then what about Business Process Outsourcing? Maybe such a move could enable a bank to focus on its customers, products and data, leaving away the burden of day to day operations? Regards, Alain

Chris, Although I am a big fan of this idea, it still raises several issues : - distributed ledger implies having a processing power to run as part of the network... Does it mean that everyone should have a banking processor somewhere, perhaps in the cloud? - who will certify the digital identities and thus the on boarding of a new person in the distributed ledger? - how to control this new financial system without central bank? - and last but not least, it implies that banks will not offer anymore account management and thus won't they be unbundled in the process? Regards, Alain