Centre for Digital Economy :
The Digital Economy, also referred to as the New Economy, refers to an economy in which digital computing technologies are used in economic activities. It is an umbrella term that describes how traditional brick-and-mortar economic activities (production, distribution, trade) are being transformed by Internet, World Wide Web, and blockchain technologies. The digital economy results from billions of daily online transactions among people, organizations (businesses, educational institutions, non-profits), and distributed computing devices (servers, laptops, smartphones, etc.) enabled by Internet, World Wide Web, and blockchain technologies. The digital economy is rapidly evolving into an Internet of Things (IoT), backed by the spread of information and communication technologies (ICT) across all business sectors to enhance its productivity.
Digital transformation of the economy is altering conventional notions about how businesses are structured, how consumers obtain goods and services, and how states need to adapt to new regulatory challenges. The Centre for Digital Economy is a knowledge-cum-consultancy hub for developing insights into all related issues including key issues like future of money ( including cryptocurrencies), weakening power/ role of central banks, banking 4.0, impact of FinTech etc., and making requisite expertise available to businesses and governments in their bids to reinvent themselves to be future-ready.
As part of it’s services, the Centre advises about FinTech transformation, the future of data-driven finance, transforming businesses in the age of AI, growing business through platforms, implications of cryptocurrencies, compliances in digital economy and RegTech/SupTech ecosystem. It also advises about possible organizational/ business models of the future like Decentralized Autonomous Organizations ( DAO), which are self-governed, self-managed, and self-sustaining, with no employees, no bosses, and nonstop production, run by a set of preprogrammed rules.