Issue of developing Digital economy of Mongolia

Abstract

In the first part of the article, the author compares various definitions of digital economy and spells out his own version of its essence and content. He defines digital economy as one of the models of new economy based on digital technology system. The author believes that digital technology system consists of various technologies, such as Big Data, high-speed wireless Internet, blockchain, cloud computing, Internet of things, artificial intelligence, 3D printing, virtual reality and others. The second part examines the current state of development of digital economy in various sectors of the economy and notes that the development of digital economy is led by the telecommunications industry, followed by the financial sector. The author emphasizes the need to develop a specific state policy to support the development of digital economy and suggests some ways to further expand it.