Origins of Ordinary Things: Bank | New times

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People deposit their money in the bank to protect it from theft, to keep it for future use, or to avoid overspending.

The word “bank” has a Latin origin. According to The Guardian, a media source, this is a bench where the money lenders of ancient Rome would sit and the public would come to them and give them their money, believing in their ability to choose good risks. credit that would earn interest. Those who chose bad credit risks would see their banks broken.

In ancient Assyria and Sumeria around 2000 BC. BC, the bank began with lending and borrowing. According to Wikipedia, an encyclopedia, at this time, merchants gave grain loans to farmers and traders who sold goods from one city to another.

During the Roman Empire, those who lent or borrowed money began to do so in the temple, which was a designated place of worship. According to Investopedia, a financial education platform, this is because when the need for a currency to purchase foreign goods and services arose and coins were made, the temple seemed to be the most safe to keep parts. Over time, people began to transact in temples.

The greatest explosion of anger recorded in the Bible about Jesus Christ – the most important figure in the Christian faith, is when Jesus drove merchants out of a temple. According to the Bible, some of them were money lenders.

Eventually the Romans stopped bringing money to temples and started bringing it to designated buildings. According to Investopedia, during this time, Roman Emperor Julius Caesar gave a decree allowing banks to confiscate land if someone did not repay a loan. Previously, debt could simply be passed on from generation to generation.

Banks disappeared after the collapse of the Roman Empire and did not reappear until the 12th and 13th centuries. It is according to Local Histories, a knowledge dissemination platform. Banks that operate in a similar fashion to the current ones began in the Renaissance in Italy. Bardi and Peruzzi, two prominent families, opened bank branches in the Italian cities of Florence, Venice and Genoa.

In the 15th and 16th centuries, the bank extended from Italy to northern Europe. This is according to Wikipedia. After that, it spread to the rest of the continents. When telecommunications and computing began to improve in the 20th century, banks began to adapt their operations to the needs of a modern world.

Now people can transact without even going to the bank physically. They can make payments, withdraw money, check their balances from the comfort of their own homes using nothing more than a cell phone.

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About Nereida Nystrom

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