Digital Economy and the Role of Information Technology

Abstract

As mankind has progressed from the Stone Age to Metal Age to the Information Age that we are living in today, there has been continuous progress, making our lives simpler day by day. However, the newest revolution to hit anthropological progression is digitization. This phenomenon has transformed all over lives and catapulted it into the Digital Age. To realize the objective of making India a ‘Digital India’, the PM Narendra Modi announced a demonetization drive to clean the system and weed out corruption and black money effecting a strong growth in digital payments and transactions and resulting in emergence of digital currencies and digital payment mechanism. However, insights into users’ personal information including debit, credit card details, passwords and its illegal use by hackers with a surge in digital transactions are most critical risks necessitating adequate internet security measures to control cybercrimes. The paper aims to analyse the role of information technology in this digital era.

Keywords: Bitcoins, Cybercrime, Digitization.

View PDF