You want to apply a old centralized model onto a new decentralized technology and this is where it will fail. The "cloud" as you have put it, will be the weak point in this system and prone to attack. Bitcoin is strong because it is decentralized, and these glorified ledger systems are weak.

Let's hope this never happens, because a lot of us wants stronger decentralized systems to be the norm. Who would control the "cloud"? <=== central banks / governments. ^hmmmmmm^