In the late 20th century the traditional nations faced a new competitor in the form of the Corporate Republic. Rapid electronic communications revolutionized the world currency markets, opening anti-business governments to the threat of sudden, even catastrophic monetary collapse. Freed from state controls, corporations began to assume many of the traditional services provided by government. At first, they provided mail, health services, schooling, and fundamentals such as computer, power, and water services. As their power grew, their reign expanded until the Corporate Republic became the government itself.