Why Cloud Computing may have problems in a social setting?

It may not have problems as computer cloud is simply a system of decentralizing data to a distant server. The only problem I foresee is the fact that people might not accept to have their virtual possessions (images, docs, games etc..) not close from them...just as some people prefer CDs and DVDs to virtual copy...because if the internet was to fail (don't care the reasons or the extent), everything would be inaccessible!!