What is the Digital Economy? An economy focused on digital technology

Privacy Problems: Data collection and use are now very profitable industries. Facebook gathers a wide variety of user data, and political interests have purchased this data so they may target individuals with highly relevant political adverts.

Employment Loss: Our reliance on human resources decreases as our reliance on technology increases. The development of the digital economy could result in significant employment losses. The need for human resources declines as procedures become more automated. Consider internet banking as an example.

Lack of knowledge: Complex technology and processes are needed in the digital economy. The platforms need to be built and maintained by specialists and educated people. Particularly in rural and semi-rural areas, these are few.

Significant Investment: A robust infrastructure, an efficient Internet, and robust mobile networks are necessary for the digital economy. This entire process takes a lot of time and money. Infrastructure and network development in a developing nation like ours is a very slow, time-consuming, and expensive process.

To Sum Up:
Businesses in the conventional economy sell customers tangible goods. Businesses can sell both physical and digital goods in the digital economy. Additionally, they have changed the means through which they offer these goods. Businesses would sell their goods through physical stores in the conventional economy. Businesses can use e-commerce platforms to sell their goods online in the digital economy.