Strengthening the digital economy

In this modern era of technologies, we are fully crowded by smart technologies and smart ways of communication. Nowadays, almost every one of us is spending most of our time with our smartphones and laptops. Being online and staying connected has become the most important aspect of our lives.

Whether it’s for checking-in to a hotel, shopping or even conducting online business, we all need to be connected to the internet all day for such tasks. E-business is booming, and it’s only going to continue growing bigger.

For improving overall E-business, the European Union took some important steps for the betterment of society.

The EU policy for digital economy:

  • Defining their telecom rules to the world.
  • Supporting their consumers.
  • Setting up different technical standards.
  • Supporting research and innovations in the world of digital economy.

This EU policy not only helps the society to be successful but also helps when it comes to competing with others in the world of technology. It will also assist in transforming Europe’s industrial projects. The European policies for the digital world will also help in creating new and advanced technologies in this market.

Some of the drawbacks of the EU policy of Digital economies:

With all the advantages mentioned above, there are some of disadvantages as well. The EU policy drawbacks are as follows:

  • By following this EU policy, only 15% of the people can do online shopping from another EU country.
  • The internet providing companies may not fully enjoy the online opportunities in EU policy of digital economics.
  • It will also have an influence on overall online business. Only 7% of small businesses can sell their products online across the borders of Europe.
  • The businesses and governments may not enjoy the benefits of digital marketing tools as expected.

The growth of digital economy:

When compared to other departments, digital economy is growing seven times faster. The high-speed internet is making a huge impact on the society just like transport and electricity did centuries ago. This high-speed internet is also opening new doors for EHealth and digitally smarter cities.

The European Commission is encouraging such an impact of high-speed internet with rules and regulations. The EU is also making sure to introduce rules of using communications and network services to all. Europe is also providing basic broadband services for everyone in the continent. The high-speed internet is also helping people in taking part in digital competitions around the globe.

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