What have been Juno (money), Plutus (finance), and Mercury (internet) been up to lately?

Interesting speech by Ravi Menon, Managing Director, Monetary Authority of Singapore. He refers to Roman Gods to understand ongoing changes in world of money, banking and internet:

Money as a medium of exchange and store of value has been around for millennia. It is named after the Roman goddess of money, Juno, who carried the title Moneta. Rome’s currency was first minted at her temple in the third century B.C.  Money has come a long way since: from bullion coins, to paper notes backed by the gold standard, to fiat currency backed by central banks, and now digital money.

Finance or the intermediation of savings and investments existed in many ancient civilisations. The Roman god of wealth, Plutus, comes closest to being the presiding deity for finance. Finance too has come a long way: foreign exchange markets and bills of exchange emerged in the Middle Ages, before modern finance took shape with fractional reserve banking, stock markets, mutual funds, and insurance.

The Internet is more recent. Its official birthday is 1 January 1983, though the concept itself – namely a computer network which enables information sharing among users – goes back to the US defence industry in the 1960s. Of course, the ancient Romans did not have a god for the Internet, but perhaps Mercury – the god of commerce and communications – comes closest.

The future of Juno, Plutus, and Mercury is increasingly becoming entwined, in large part due to technology. Let’s check out what Juno, Plutus, and Mercury have been up to lately.

He lists many ongoing developments in Singapore in the world of Juno, Plutus, and Mercury.

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