Personally, I disagree with this approach. This is trying to solve a business problem (I can't trust cloud-providers) with a technical trade-off (avoid centralized architecture). The problems with closed-source software (lack of control, lack of reliability) were solved with a new business model: open source development, which came with new licenses and new ways of getting revenue (maintenance contracts instead of li…
This calling back might amount to taking delivery. In a banking context, that is where the user takes delivery of whatever money and other property is in the account. In the cloud vendor case, this would be the user receiving a big Zip file with all the contents of the account.
Taking delivery is not always practical and is also not always desirable. Another option in a financial context is transferring accounts from one vendor to another: this can take the form of wiring money or sometimes involves a specialized transfer process. Transferring the account is probably way more useful for many cloud services.
This leads us to a hard thing about these services, though: portability. Say we delineate a clear property interest for user's in their cloud accounts and we delineate all of their rights. We have some good interests and some good rights; but what does it mean to take delivery of your Facebook friends? What does it mean to transfer your Facebook account from one place to another?