Anthony J. Pennings, PhD

WRITINGS ON DIGITAL ECONOMICS, ENERGY STRATEGIES, AND GLOBAL COMMUNICATIONS

How IT Came to Rule the World, 2.3: Data Packets for Dollars

Using the new X.25 series of packet-switching protocols embraced by the ITU, banks developed extensive international networks and clearinghouse systems to offer information services for the movement of credit information and money and to settle accounts. The supranational fund of electronic eurodollars that emerged out of the OPEC surpluses of the 1970s’ oil crises an provided an important step to the global Internet as the packet-switched technology was implemented in banking networks to coordinate the resultant flows of international currency exchange and debt.

How IT Came to Rule the World, 1.9: Early Internationalization of the Internet

A number of ideas were discussed concerning future uses and implementation of the ARPANET, including its integration with other networks around the world. Although the network would continue to be underused, the conference sparked a number of initiatives that would have longstanding influences on the future of the Internet.

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  • About Me

    Professor at State University of New York (SUNY) Korea since 2016. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, digital economics, and strategic communications.

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    anthony.pennings@sunykorea.ac.kr

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    The opinions expressed here do not necessarily reflect the views of my employers, past or present.