In a previous paper (hep-th/0306142) we have started to explore the
holographic principle in the case of asymptotically flat space-times and
analyzed in particular different aspects of the Bondi-Metzner-Sachs (BMS)
group, namely the asymptotic symmetry group of any asymptotically flat
space-time. We continue this investigation in this paper. Having in mind a
S-matrix approach with future and past null infinity playing the role of
holographic screens on which the BMS group acts, we connect the IR sectors of
the gravitational field with the representation theory of the BMS group. We
analyze the (complicated) mapping between bulk and boundary symmetries pointing
out differences with respect to the AdS/CFT set up. Finally we construct a BMS
phase space and a free hamiltonian for fields transforming w.r.t BMS
representations. The last step is supposed to be an explorative investigation
of the boundary data living on the degenerate null manifold at infinity.Comment: 31 pages, several changes in section 3 and 7 and references update