
Once upon a time, when banks observed the gold standard, every dollar was backed by an equal amount of metal. Put simply, your money was in the vault. But now cash is all most people ever get to hold, and as the dollar goes digital, the only tangible vestige of your wealth will soon be the computer that keeps track of it. So where is your money today?
What's not in your wallet is in a spreadsheet in what's called a core data center, a massive concrete building full of servers. But really, says information-security executive John Meakin, "your money is everywhere." Like credit-card companies and Wall Street brokerages, Meakin's London-based bank backs up information across data centers; his are in the U.K., Hong Kong, Kuala Lumpur, Singapore and Chennai, India. What he means by "everywhere" is that with ATMs and online banking, servers can deliver your money anywhere, anytime. But don't go on faith. As a financial citizen, it's important to understand how the digital bank knows what you're worth.




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