Beware the rise of the digital oligarchy

The Bank of St George, founded in 1407 in the Italian Republic of Genova, is one of the world's oldest banks. It was so powerful that it governed many of Genova's possessions on the republic's behalf. This power was based on accumulated capital. The power of accumulated capital can still dominate international affairs, but a new form of power is also emerging, that of accumulated data through loyalty cards, text messages, credit card transactions, web browsing and social networking. Data is the new currency.