The digital future: what the tech world will move to e-economy
The digital economy assumes that all economic processes are converted to digital form and automated, thereby increasing the efficiency of these processes and saving on resources. The collection of information, its processing and analysis, decision making, implementation of financial transactions happens automatically.
The digitalization of the economy is already taking place both at the non-material and at the production levels. In both cases, the introduction of new technologies is implemented in various areas of the economy.
So, speaking about the digitalization of the economy at the production level, we mean the Internet of things, that is, the creation of devices that can connect to the network and communicate with each other. Almost all of the objects around us will be connected to the digital space and will be able to analyze and transmit information about the surrounding reality. This will give humanity a huge opportunity for assessment and prediction of economic development. IoT devices are already being used to address private issues, for example, to optimize transportation in logistics companies or to monitor the state of fields in agriculture. So, the Internet of things in the digital economy is responsible for automatic data collection.
The world of IoT involves a huge amount of information that will need to be somehow processed. And here you can not do without big data technology, which just allows you to process an infinite amount of information from disparate sources, and machine learning technology, artificial intelligence, which allows to make decisions based on these arrays of information by using specially defined algorithms. For example, on our platform SHIFT.cash, which specializes in the issuance of loans secured by car titles, estimates the liquidity and value of the collateral (car) and, accordingly, determines the amount of the loan. Through the use of these technologies, the process takes place instantly, automatically (saving costs) and objectively (without the influence of the human factor on decision-making).
Another important point — the question of secure transmission of this information between the numerous participants of economic processes or simple users. In this aspect, the economic community places great hopes on blockchain technology. The point is that the flow of information (including financial transactions) is publicly available to authorized users, which minimizes the risks of fraud, corruption and so on. Plus, the blockchain is a decentralized database, the absence of a Central block indicates the absence of a regulator, which means that all participants in the economic process are equal. On our platform, blockchain technology and smart contracts primarily solve the problem of the need of constant access to information by investors and guarantees the safety of their transactions.
Globally, in the digital economy, the main task is not only the introduction of technologies into different layers of human economic activity, but also the competent management of them — instant response and rapid decision making in different areas, which, in the end, is aimed at digitalization of the economy. Thus, in the field of communications, the main task is to cope with the increasing load on the network: users will increasingly need not only communication, but also access to numerous digital platforms, while users are not only people, but also IoT devices. The financial sector is now facing the issue of digitalizing all services while strengthening their security. In urbanism — the creation of smart cities, where the expenditure of energy resources is rationalized, and a transport system is set up. And so on.
