Digital economy

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A digital economy is an economy based on electronic goods and services produced by an electronic business and traded through electronic commerce. That is, a business with electronic production and management processes and that interacts with its partners and customers and conducts transactions through Internet and Web technologies.

Digital economy

The concept of a digital economy emerged in the last decade of the 20th century. Nicholas Negroponte (1995) used a metaphor of shifting from processing atoms to processing bits. He discussed the disadvantages of the former (e.g., mass, materials, transport) and advantages of the latter (e.g., weightlessness, virtual, instant global movement). 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. For example:

• A vast array of digitizable products - databases, news and information, books, magazines, etc which are delivered over the digital infrastructure any time, anywhere in the world.

Digital economy in eGovernment

With growing population and resource mobilisation, digital economy is not limited to business trading and services only but, it encompasses every aspect of life from health to education and from business to banking. Further while everything is happening on digital medium then why not communication with government. eGovernment is already playing its part in this digital economy by providing eservices through various ministry/department to its eCitizen.

See also

• Canada 3.0
• Electronic business
• Electronic commerce
• Information economy
• Internet economy
• information society
• Knowledge economy
• Knowledge management
• Knowledge market
• Network economy
• Virtual economy