Sadly, it is not Cloud of the popular Final Fantasy VII (I can already hear the fanboys crying) that Square Enix was talking about but rather cloud services.
Square Enix’s tech head Julien Merceron said to GameIndustry.biz that cloud service will be “instrumental” to future consoles. “I think it has tremendous benefits. I don’t see any good reason not to investigate for platform holders how they could actually think about cloud storage and cloud computing for their next platforms.” he added.
Rather than using it only for storage like what Sony and Microsoft has rolled out which allows gamers to transfer their save games to the cloud; he believes cloud computing will enable us to stop changing hardware.
Although there are companies providing services like these already such as Gaikai and OnLive, there are still obstacles like lag and high data consumption to be overcomed and it might not be for a while until we get a truly efficient model to stream games to our home consoles.