Banked Meaning: Definition, Examples, and Translations

Pop Culture

• Banking features prominently in many movies, often depicting the glamor and risk involved in heists and financial dealings.
• Popular video games like 'Grand Theft Auto' have banking elements where players manage their money or perform bank robberies.
• The modern phrase 'bank on it' is used widely in media to imply trust or reliability in terms of expectations.

Economics

• Banks play a critical role in the economy by providing loans, which help businesses grow and create jobs.
• In the context of finance, 'banked' can refer to wealth accumulation, where individuals or businesses store savings for future needs.
• Digital banking has evolved significantly, allowing people to manage their finances online, making it easier to be 'banked' without visiting a physical bank.

History

• The first banks were established in medieval Europe, particularly in Italy, which spurred the growth of modern banking.
• By the 17th century, banks began to issue paper money, transforming the way people conducted transactions.
• The Great Depression in the 1930s led to significant reforms in banking practices and regulations to protect consumers.

Technology

• In the tech world, 'banked' can refer to data storage, where information is securely kept away, similar to money in a bank.
• With the rise of cryptocurrencies, the concept of banking is evolving, as people now 'bank' on decentralized systems instead of traditional banks.
• Innovations like mobile banking apps have made financial management more accessible and convenient for people globally.

Main points about word origin

• The word 'bank' comes from the Italian word 'banca,' which means bench, where moneylenders used to do their business.
• Historically, banks started as places where merchants exchanged money and provided loans during trade.
• The concept of banking can be traced back to ancient Mesopotamia, where temples stored grains and metals for safekeeping.

The word 'banked' is derived from the noun 'bank', which has its origins in the Italian word 'banco', meaning 'bench'. In medieval times, money changers conducted their business on benches in marketplaces, which eventually evolved into the modern concept of a bank. The verb 'to bank' in its financial sense emerged in the late 14th century, denoting the act of keeping money in a bank. The aviation use of the term 'banked' came about in the early 20th century, as aviation became more popular and the need for precise terminology became necessary for pilots and navigators. The evolution of the word reflects significant developments in both finance and aviation, demonstrating the dynamic nature of language influenced by societal changes.

Positioned at #20,623, this word is part of extensive vocabulary. It's relatively rare in general usage but may be important in specific fields or formal writing.

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