What is the digital economy?

Of all the sectors of the economy that exist today, the most rapidly developing is the digital economy. Its main feature is the development of digital and electronic technologies. It covers electronic business, all goods and services, any transactions that are made via the Internet. Buyers today are most influenced by social networks and what is broadcast in them. With the advent of technologies such as blockchain on the market, public and global finance cannot imagine their life without the Internet economy.

In this scenario, everyone wins. With the development of electronic technologies, an ordinary user can receive goods and services faster and choose goods of ever higher quality and reasonable price. Business, having switched to electronic platforms in time and correctly, is growing and, thanks to the simplification of the provision of services, replenishes its army of customers.

The number of people actively using the Internet already exceeds 50% of the total population of the earth – in 2016 there were more than three billion of them. Those companies that do not use digital technologies to communicate with their consumers will simply be squeezed out of the market by more progressive competitors. Firms that set up sales through the worldwide network, on average, receive 22% more revenue.

Examples

Any company that has involved the Internet in its processes is an example of e-commerce. A company is digital if it transfers all or part of its activities to the network. And if an enterprise has digitised the most important functions, such as management, business process analysis, logistics and marketing, then it can be safely called one that forms the digital economy.

Uber is the first service that comes to mind when you need to give examples of technology companies. The technologies used to call a taxi made it possible to significantly reduce the cost of organising, which in turn reduced the cost of the service for the client.

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