Digital Chain of Contemporary Global Economy: E-Commerce through E-Banking and E-Signature

Abstract

Rapid technological development significantly changes our everyday life. The fairy tale’s magic world of magic mirrors, flying carpets, mysterious powers, moving pictures, and est. becomes reality in the 21st century due to the limitless opportunities offered by digital technologies. Despite the fact that traditional business models are prevailing in contemporary Global Economy, new digital structure of economic performance is gaining speed. Against tough international and domestic competition more and more business translate into practice digital technologies to suggest new products to customers via modern channels of interaction. Electronic commerce is becoming increasingly popular in business operations and among customers. Development of e-commerce entails e-banking progress. Transforming of business and banking model into digital ones requires new changes in the fields of regulation, economic environment, physical infrastructure, customers’ awareness and skills, technology and est. Among these factors one can differentiate the one, which is the most important to support all these things to happen smoothly – the development of electronic signature, making reliable and operable business and banking models. Thus, the new digital chain – e-commerce through e-banking and e-signature is one of the most characteristic features of contemporary global economy. The paper discusses the clear correlation between these variables and concludes that simultaneously development of these variables inevitably leads to better positioning of national economies in international competition. National economies have to adjust its policies in the fields of regulations, infrastructure, education and so on to meet the modern requirements raised due to the rapid development and spread of information and communication systems.