Abstract
The Digital Economy also referred as the New Economy. It refers to an Economy in which digital computing technologies are used in Economic Activities. The term 'Digital Economy' was first mentioned in Japan by a Japanese professor and research economist in the midst of Japan's recession of the 1990s. In the west the term followed and was coined in Don Tapscott's 1995 book, The Digital Economy: Promise and Peril in the Age of Networked Intelligence.[2] This was among the first books to consider how the Internet would change the way we did business.[3] In this new economy, digital networking and communication infrastructures provide a global platform over which people and organizations devise strategies, interact, communicate, collaborate and search for information. More recently,[7] Digital Economy has been defined as the branch of economics studying zero marginal cost intangible goods over the Net.
Highlights
As shown by the experience of leading countries, digital technologies can be transformational for development generating economic and social benefits for people, businesses and governments
Internet has democratized knowledge once accessible only to presidents of state or scientists, while the smartphone phone revolution has empowered people around the world in ways not possible before. Thanks to this exponential growth of mobile technology, a teenager living in India or Ghana or any other country can potentially build the Facebook and change the world
The Digital Economy uses a tenth of the world's electricity.[25]
Summary
As shown by the experience of leading countries, digital technologies can be transformational for development generating economic and social benefits for people, businesses and governments. Internet has democratized knowledge once accessible only to presidents of state or scientists, while the smartphone phone revolution has empowered people around the world in ways not possible before Today, thanks to this exponential growth of mobile technology, a teenager living in India or Ghana or any other country can potentially build the Facebook and change the world. Startups like Totohealth in Africa, help transform family health by using SMS and voice technology to help reduce maternal mortality, child mortality and detect developmental abnormalities in early stages These companies and startups are a living proof that production conditions in emerging markets can be improved by creating sustainable value chains and designing progressive labels of social and environmental standards. Understanding the world we live in by considering these trends in technology and global entrepreneurship is critical for anybody aspiring to do excellent work in international cooperation and striving to have a positive impact in the world
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