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Powering the Digital Economy

Regulatory Approaches to Securing Consumer Privacy, Trust and Security

image of Powering the Digital Economy

The report provides an outline of the value and the functioning of the digital economy, as well as requirements and considerations in terms of ICT and privacy regulation. It explores the issues of online privacy, trust and security, and how these influence and drive online data business models and data markets. It further examines the notion of trusted digital identity and what it means in terms of security by providing examples of digital identity systems.

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Introduction

The potential of the digital economy continues to grow, with more than 4.2 billion active mobile broadband subscriptions worldwide at the end of 2017, and more than 3.5 billion users online. Mobile technologies and services generated 5.4% of GDP across the Asia and Pacific region in 2017, amounting to USD 1.5 trillion of economic value added. Each year, more individuals acquire the means of accessing digital services through lower smartphone prices and greater and better quality network coverage. With this, the potential grows for more conventional services to shift to or to be further enabled in the digital world, as well as for new services to be created that can only exist online. Technology is there, and customers, attracted by lower service prices and convenience, are there. But consumer privacy, trust and security still remain major barriers to an ever-expanding digital economy.

English

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