Peer reviews - to be open or closed?

Generally a peer review process is blind in most of the publications where identity of reviewer and author are not disclosed. But now a debate is going on whether this peer review process should be open. 

An article ''Researchers debate whether journals should publish signed peer reviews’’ By Jeffrey Brainard published in Science Magazine which gives more details about it.

There will be pros and cons for such open peer review process but definitely if the whole article is available for public then why not the process behind it which will bring more transparency and will help in ensuring the quality of published work.