No, the cloud systems still need to be there (to track when you are trying to use your identity), but they will rely on private keys that you can surgically implant in your limbs.

In fact a more realistic (but symbolically equivalent) scenario is that you'll be expected to carry around a device with you at all times that is biometrically linked to your limbs, and auto-updates its code (and the EULA that you agreed to in perpetuity).