The Effects of Digital Economy

Posted on by Benchs
Estimated read time 4 min read

This is the age of the digital economy. One we had to stand in long queues in traffic department for renewal of our registered vehicle or stand in long lines for a railway ticket bookings even for cash withdrawals long queues in banks were time-consuming but now we have online connectivity to almost anything and everything hassle-free and less time-consuming. Banking and ticket bookings are just an example of us moved to the digital economy, there are so many more ways where we will be affected by this and it is also now considered as Fourth Industrial Revolution.

Big Data

We might be not aware but our finest detail is recorded as data. An example is Google, google in particular may know everything about their Android mobile phone users like where they spent there most of the time, how much time they spend on communicating, etc. This is weird but this is the data that assists companies to know your preferences and it helps companies to customize their user experience for you. But the data that is being digitally recorded is also being put towards determining climate change. For example, the masses of the data record can be used to determine whether patterns to help government and farmers, also such information as what time of year does people eat more food.

People are Connected

With the social economy, people are far more connected with each other. Social media has not only given a platform to people to connect with each other it has also given a market place. Being able to visit City Index to Conduct CFD trading has become much easier than ever as people are now able to see what other traders are doing and what calls are been made using social platforms. Sharing products and services by connecting digitally is a new concept called sharing economy, it is been adopted by a few companies such as Uber and Airbnb.

As been constantly connected we will be always aware of the needs it can be a new trend that could be raised by the digital economy. Transparency will also be ensured by the digital economy as there will be a digital trail. Blockchain technology is nowhere to enhance this further. This technology is a surefire way of ensuring there is a trail and that information is kept safe. Payments will become secure using this technology whereas the elections will be fairly contested and incorruptible. According to Delhi- Magazine “Blockchain technology has cryptocurrencies as most high profile champions and this is proof that we could all one day live off the decentralized economy, which will purely be digital.”

Value of Time

Time is most valuable for a person in today’s time. So the biggest gift that we will get from the digital economy will be time. Another gift we will get from the digital economy will be that it will be easier to get the answer to questions that we previously had to conduct research or form experiences to have answered. One of the major factors to consider while discussing the digital economy is convenience. Once we had no choice other than getting our own cars or use public transport to travel. Now we just need to pick up our phone to check our bank account balance or transfer money to someone’s account.

Government Jumping on board

There are so many facilities the government is talking about digital nowadays. Like Taxes payment, Criminal reporting, health care even renewing your vehicle license and many more daily tasks are now in the digital realm. The public has to now not stand in long queues for railway tickets or banks. Nearly everything can be paid online now. Government departments are dependent on paperwork but slowly digital economy should eliminate such issues and also heighten efficiency.

Digital Economy has made our day to life much simpler and easier as compared to earlier times. The effects of the digital economy personally and globally are endless and efficient. Listing all the changes which the digital economy has brought in our day to day life is endless and nearly impossible to mention each and every one of it. All we can do is keep up with time and embrace the benefits we are provided by the digital economy. The digital economy is inevitable.

Avatar for Benchs
Benchs http://thescinewsreporter.com

You May Also Like

More From Author

382Comments

Add yours
  2. 2
    Geralddup

    Fatiguing https://www.nothingbuthemp.net/pages/bemidji-location has been perfectly the journey. As someone keen on spontaneous remedies, delving into the to the max of hemp has been eye-opening. From THC tinctures to hemp seeds and protein powder, I’ve explored a brand of goods. In defiance of the disarray adjoining hemp, researching and consulting experts own helped cross this burgeoning field. Overall, my sophistication with hemp has been positive, offering holistic well-being solutions and sustainable choices.

  4. 4
    Сайт казино

    Вся информация, представленная на данном сайте, носит исключительно информационный характер и предназначена для ознакомления с деятельностью онлайн-казино. Сайт не являемся оператором игр и не предоставляем услуг по организации азартных игр. dyvlgdrlud … https://autocadhelp.net/wp-content/uploads/aios/aicasino.html

  17. 17
    binance

    Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?

  18. 18
    /idgod.dev

    Thanks on your marvelous posting! I certainly enjoyed reading it, you are a great author. I will ensure that I bookmark your blog and definitely will come back down the road. I want to encourage you to definitely continue your great writing, have a nice weekend!|

  20. 20
    idgod

    certainly like your website however you need to take a look at the spelling on quite a few of your posts. A number of them are rife with spelling issues and I find it very bothersome to tell the reality on the other hand I’ll certainly come back again.|

  22. 22
    desi porn

    Hey There. I found your blog using msn. This is a really well written article. I will make sure to bookmark it and return to read more of your useful information. Thanks for the post. I will definitely return.|

  28. 28
    idgod

    I’m not sure why but this blog is loading extremely slow for me. Is anyone else having this issue or is it a issue on my end? I’ll check back later on and see if the problem still exists.|

  187. 187
    WilliamRoume

    Лучшие игровые промокоды промокод на кейсы в одном месте! Активируйте бонусы, получайте подарки и прокачивайте аккаунт без лишних затрат. Следите за обновлениями, чтобы не пропустить новые промо!

  191. 191
    RickyLaw

    Недвижимость на Северном Кипре https://iberiaproperty.ru выгодные инвестиции и комфортная жизнь у моря. Апартаменты, виллы и пентхаусы по доступным ценам. Поможем выбрать лучший вариант и оформить покупку.

  193. 193
    MichaelShoff

    удобный маркетплейс blacksprut сайт с высоким уровнем анонимности и надежной системой защиты. Интуитивный интерфейс, проверенные продавцы и безопасные сделки делают его лучшим выбором для покупок.

  195. 195
    Richardknoke

    Хотите проверить компанию https://innproverka.ru по ИНН? Наш сервис поможет узнать подробную информацию о юридических лицах и ИП: статус, финансы, руководителей и возможные риски. Защищайте себя от ненадежных партнеров!

  200. 200
    DavidGlato

    Раскрутка в соцсетях https://nakrytka.com без лишних затрат! Привлекаем реальную аудиторию, повышаем охваты и активность. Эффективные инструменты для роста вашего бренда.

  206. 206
    KevinMet

    увлекательный сериал сериал однажды в сказке о жизни сказочных персонажей в реальном мире. Интригующий сюжет, волшебные события и неожиданные тайны. Смотрите онлайн в высоком качестве прямо сейчас!

  216. 216
    Davidrar

    Интернет-магазин товаров https://vitasleep.ru для здорового сна. В ассортименте: ортопедические матрасы, подушки, одеяла, постельное белье и аксессуары от проверенных брендов. Удобный выбор, доставка по России, гарантия качества. Забота о вашем комфорте и здоровом сне!

  243. 243
    TravisTaive

    Логистические услуги в Москве https://bvs-logistica.com доставка, хранение, грузоперевозки. Надежные решения для бизнеса и частных клиентов. Оптимизация маршрутов, складские услуги и полный контроль на всех этапах.

  244. 244
    Stephenram

    Хотите почувствовать азарт? arkada casino играть предлагает широкий выбор игр, честную систему выигрышей и мгновенные выплаты. Захватывающие слоты и бонусы ждут вас!

  261. 261
    Andrewmip

    Check out Sellvia on Instagram for the hottest product ideas, store upgrades, and exclusive deals! Stay in the loop with our latest dropshipping tips and grab promo coupons to boost your business.

  284. 284
    JeffryDib

    The full special bip39 Word List consists of 2048 words used to protect cryptocurrency wallets. Allows you to create backups and restore access to digital assets. Check out the full list.

  289. 289
    RobertAmard

    Reliable and unique bip39 Word List contains 2048 words needed to create seed phrases in crypto wallets. Allows you to safely manage private keys and guarantees the possibility of recovering funds.

  300. 300
    RobertAmard

    Reliable and unique bip39 Word List contains 2048 words needed to create seed phrases in crypto wallets. Allows you to safely manage private keys and guarantees the possibility of recovering funds.

  308. 308
    BradleyKag

    Ремонт компьютеров и ноутбуков https://remcomp89.ru в Новом Уренгое – быстрые и качественные услуги! Диагностика, настройка, замена комплектующих, восстановление данных. Гарантия на работу, доступные цены и выезд мастера!

  315. 315
    Haroldviomb

    Используйте актуальный промокод 1xbet и получите увеличенный бонус на первый депозит! Делайте ставки на спорт, играйте в казино и пользуйтесь эксклюзивными предложениями. Легкая регистрация и моментальные выплаты!

  324. 324
    visit blueremoval.ca

    It is perfect time to make some plans for the future and it’s time to be happy. I’ve read this post and if I could I want to suggest you some interesting things or advice. Perhaps you could write next articles referring to this article. I wish to read even more things about it!|

  331. 331
    MinSwap

    Hey there! Quick question that’s completely off topic. Do you know how to make your site mobile friendly? My web site looks weird when viewing from my iphone. I’m trying to find a theme or plugin that might be able to fix this issue. If you have any recommendations, please share. With thanks!

  338. 338
    RichardSet

    Продажа инструментов для дома http://profimaster58.ru строительства и ремонта! Огромный выбор ручного и электроинструмента, выгодные цены, акции и быстрая доставка. Найдите все необходимое в одном месте!

  342. 342
    Polygon Bridge

    Woah! I’m really enjoying the template/theme of this blog. It’s simple, yet effective. A lot of times it’s difficult to get that «perfect balance» between superb usability and visual appeal. I must say you’ve done a superb job with this. Also, the blog loads extremely quick for me on Safari. Outstanding Blog!

  350. 350
    bip39

    Use the proven bip39 standard to protect your assets and easily restore access to your finances. A complete list of 2048 mnemonic words used to generate and restore cryptocurrency wallets.

  354. 354
    polygon bridge

    Thanks for helping me to obtain new concepts about personal computers. I also have belief that one of the best ways to help keep your laptop in excellent condition is to use a hard plastic-type case, or perhaps shell, that matches over the top of the computer. A majority of these protective gear are usually model targeted since they are made to fit perfectly over the natural housing. You can buy all of them directly from the owner, or via third party sources if they are for your laptop, however its not all laptop could have a shell on the market. Once again, thanks for your points.

  356. 356
    DefiLlama

    Wonderful beat ! I would like to apprentice even as you amend your site, how could i subscribe for a blog site? The account aided me a applicable deal. I have been a little bit familiar of this your broadcast provided shiny clear idea

  357. 357
    DefiLlama

    I haven?t checked in here for some time since I thought it was getting boring, but the last several posts are great quality so I guess I will add you back to my daily bloglist. You deserve it my friend 🙂

  358. 358
    rodri

    Sitio web de fans rodri com mx de Rodri Hernandez: Descubre la carrera y logros del mediocampista espanol del Manchester City. Noticias, estadisticas y analisis del juego de uno de los mejores futbolistas actuales.

  373. 373
    Minswap

    These days of austerity and relative anxiety about taking on debt, a lot of people balk contrary to the idea of employing a credit card to make acquisition of merchandise or pay for a vacation, preferring, instead to rely on the actual tried and trusted procedure for making repayment – raw cash. However, in case you have the cash there to make the purchase completely, then, paradoxically, that is the best time to use the credit cards for several factors.

  374. 374
    NormanHub

    Try your luck at pin up casino! The best slots, roulette, blackjack and live games with real dealers. Pleasant bonuses, promotions and a user-friendly interface will create ideal conditions for the game!

+ Leave a Comment