What Is Digital Economy And What’s The Different?
We frequently hear the word digital around us such as digital culture and digital marketing. But have you ever known what digital economy is? Some of you must have a clue because there is a word economy in it. This must be related to economic activities or anything related to economic behavior.
What’s the Digital Economy?
The digital economy is an economic activity that is carried out digitally with the help of the internet. It can make significant changes to people’s economic and business activities because what was done manually has become automated. So, it can run and grow faster than ever before.
The digital economy was founded in 1996 by Don Tapscott. Now it is growing as technology grows. In the industrial era 4.0 trade transactions with the internet are increasingly facilitated, this will help realize the success of a sustainable economy with the aim of improving the business / industrial sector, consumer employment and government by each country.
What Makes the Digital Economy different?
Although technological developments are developing hand in hand with advances in the digital economy so that the industrial revolution is sometimes equated with the digital economy, basically these two things are two different things and even have different goals. The digital economy is also different from the traditional economy.
There are various characteristics that make the digital economy different from the traditional economy. First, the internet has made it possible for anyone with an idea to start a business. There are no geographical boundaries and no need to set up a physical presence. This has led to the creation of many new businesses and the growth of existing ones.
Second, the internet has made it possible for people to buy and sell goods and services online. This has made it easier for people to find what they are looking for and to buy it from the comfort of their homes. Third, the internet has made it possible for people to exchange money electronically. This has made it easier for people to do business with each other and to transfer money to and from different parts of the world.
Fourth, the internet has made it possible for people to communicate with each other electronically. This has made it easier for people to do business with each other and to exchange information. Fifth, the internet has made it possible for people to access information electronically. This has made it easier for people to learn about different businesses and to make informed decisions about where to spend their money.
Conclusion
After reading more clearly what the digital economy is and what the differences are, you will understand that the it is an economic activity that is considered modern because of the use of technology in conducting business activities. The internet is the main platform for the success of this economy, which is why it is different from the traditional economy.
