Many Biblical scholars believe that "Babylon" is an allegory of Rome; perhaps specifically at the time to some aspect of Rome's rule (brutality, greed, paganism), or even a servant people that does the bidding of Rome.
In 4 Ezra, 2 Baruch and the Sibylline oracles, "Babylon" is a cryptic name for Rome. Elsewhere in the New Testament, in 1 Peter 5:13; some speculate that "Babylon" is used to refer to Rome. In Revelation 17:9 it is said that she sits on "seven mountains" (the King James Version Bible—the New International Version Bible uses the words "seven hills"), typically understood as theseven hills of Rome. A Roman coin minted under the Emperor Vespasian (ca. 70 CE) depicts Rome as a woman sitting on seven hills.
According to the International Standard Bible Encyclopedia, "The characteristics ascribed to this Babylon apply to Rome rather than to any other city of that age: (a) as ruling over the kings of the earth (Revelation 17:18); (b) as sitting on seven mountains (Revelation 17:9); (c) as the center of the world's merchandise (Revelation 18:3, 11–13); (d) as the corrupter of the nations (Revelation 17:2; 18:3; 19:2); (e) as the persecutor of the saints (Revelation 17:6)."
Revelation 17:1 - Revelation 17:6 This chapter is the key to the Book of Revelation: Saint John sees the embodiment of the Antichrist in pagan Rome, which persecutes Christians. However, it should not be forgotten that the Roman Empire is also a precursor to all godless powers. The great harlot: Rome. The great waters are the peoples of the Roman Empire (Rev. 17:15). They have fornicated, that is, they have adopted Rome's idolatry and immorality. The scarlet beast is the first beast described in Rev. 13:1-8, the material and political power of the Antichrist. The names of blasphemy are the deified names of the emperors. The seven heads and ten horns are explained by the angel in verses Rev. 17:9-14. Verse Rev. 17:6 alludes to the persecutions of Christians. The angel presents Rome as a great whore. As Rome, or Babylon, stands against the heavenly Jerusalem, so this whore stands against the woman crowned with stars. Rome sins with its godlessness, idolatry, and emperor cult, or in the language of the Scriptures: it is immoral. This woman builds her power on the conquered peoples, the great waters. The angel takes John into the wilderness; Isaiah calls Babylon the "desolation of the sea" (21:1), from which John might have taken the expression, representing the barrenness of godlessness. The woman sits on a scarlet beast which symbolizes both the splendor with which she surrounds herself and the blood she has shed to govern the conquered peoples and that which the Christians have spilled for their faith. On her forehead was written her name: public women wore their names or their house name written on a band on their foreheads. The mystery indicates that it is not the real Babylon being referred to, which was already in ruins. The woman is drunk with the blood, the spilled blood of Christians gave further impetus for persecutions.
Revelation 17:7 - Revelation 17:18 The Roman Empire, identified with the Antichrist, was in its full power during the time of Emperor Augustus, but is no more: with Nero, Augustus's family line died out, and the turmoil following Nero's death almost led to the empire's collapse. It rises from the abyss: it regains strength, and the persecution of Christians resumes. The seven mountains: the seven hills of Rome. The seven kings: represent seven emperors. The five are: Nero, either Galba or Otho, Otho or Vitellius, Vespasian, and Titus. The sixth ruler is Domitian, contemporary of Saint John, the seventh is likely Nerva. The ten kings: barbarian kings subjugated by Rome, who will later rebel against Rome (Rev. 17:16) and thus become instruments of God's punishment. For one hour: a short time. The angel explains the vision. A symbol can refer to multiple things, but a thing can also be explained by multiple symbols. The beast on which the woman sits is the Antichrist. As Christ died and rose again, the Antichrist tries to mimic this. - The Roman Empire existed before Christianity, so it was. With Nero's death, Augustus's family was extinct, so it is not, and people really thought the empire would also end, but it was revived. Here Satan tries to imitate Christ's second coming: was, is not: emerges from the abyss. The beast's seven heads are the seven hills of Rome, as well as seven emperors. Different explanations are given for these seven emperors. One explanation is that Augustus is the first, followed by Tiberius, Caligula, Claudius, Nero – these are said to be "five have fallen". Vespasian is the sixth: he is reigning now. Titus is the seventh: he has not yet come, and he will rule only a short while. Domitian is the eighth, who people saw as the resurrected Nero. This sequence disregards three rulers (Galba, Otho, Vitellius) who tried to come to power after Nero's death. However, it is also possible that John sees seven rulers who will rule at the end of the world, with the eighth being the Antichrist himself. The ten horns are the kings helping Rome, who persecute Christians but ultimately turn against Rome. The number ten is also a complete number. - The whore is destroyed, but the beast itself remains, indicating that it is not only the personification of Rome but also of every godless power throughout history.
Revelation 18:1 - Revelation 18:3 The chapter dramatically presents the fall and punishment of God and His Church's main enemy, the pagan Roman Empire. The angel proclaims the fall of Rome in a prophetic past, as if it has already occurred. The angel announces Rome's fall and destruction because of its idolatry. John writes about future events as if they had already happened.
Revelation 18:4 - Revelation 18:8 The Lord Jesus warns Roman Christians not to share in Rome's sins (Rev. 18:4-5), and commands the angels to execute judgment (Rev. 18:6-8). The angel urges Christians to leave the city so as not to perish with it. But this call also means that Christians should not have any fellowship with pagans.
Revelation 18:9 - Revelation 18:10 Allied princes mourn Rome but do not rush to its aid. In one hour: suddenly. The allied kings mourn Rome but from a distance, lest they perish with it.
Revelation 18:11 - Revelation 18:20 Merchants and sailors, who accumulated great wealth through trade with Rome, also lament the city's fall. The merchants mourn the fall of Rome because their businesses cease. In contrast to this mourning stands the joy of Christians: Rejoice...
Revelation 18:21 - Revelation 18:24 The final fall of the persecuting Rome is symbolically sealed by an angel with a great stone thrown into the sea (Jer. 51:61-64). The immutability of the judgment is symbolized by the casting of the stone into the sea. Pagan Rome disappears like a stone thrown into the sea.