For example, JPMorgan Chase manages a database that tracks how much money you have in your checking account, as well as detailed records of prior transactions that validate how that balance was accumulated. Of course, JPMorgan has many backups of this record (and you might too), and it really operates a network of different databases, but what matters is that these digital records are managed and owned by a single party: JPMorgan. This model is used for almost all digital and virtual information, not just bank records.
