Digital economy: a reality of the 21st century

The advent of digitalization and its implementation in all areas of society has changed both the structure and habits of life.

Obviously, the economy cannot be oblivious to the impact of new technologies in our society. We are talking about the so-called digital economy or the economy that is carried out through the Internet. In this economy, the predominant sector is the media, social networks and web portals.

The positive effects of the digital economy are manifested in countless dimensions, from increased economic activity to improved quality of life in society. The flagship of the digital revolution has been the invention of the Internet, which has made it possible to interconnect the world and drive globalization.

The role assumed by the Internet and other digital technologies in economic activity has not only materialized in the “pure” sectors born in the digital revolution e.g. Google or Facebook, but its impact has gone far beyond.

Technology and the digital era have a major influence on companies offering entertainment services. Online lottery and mobile gaming have boomed in this industry in recent times, taking advantage of constantly evolving technological advances to offer players options wherever they go.

One example of this is the improved payment methods offered by gambling portals in recent years. Paypal and Trustly casinos have an astonishing popularity nowadays. As well as this, you’re now able to play at any time and place without having to move from the comfort of your home with your smartphone.

And in the specific case of the lottery, there is the convenience of buying without having to travel to the administration, without waiting in line and at any time of day. By playing the lottery online, users will not lose the ticket that may be awarded, something that usually happens in the traditional lottery. In addition, the security of users is guaranteed by maintaining their anonymity.

There are plenty of other examples of the current and potential impact of digitalization. Mobile platforms and solutions have facilitated access to education and training, financial inclusion in areas with lower density of ATMs and bank branches.

The use of cloud computing, e-commerce and even augmented reality have improved the performance of the retail sector dramatically. Automation, sensorization and the use of analytics and their integration into the overall operations of manufacturing companies have led to substantial productivity improvements.

And as the number of potential mobile users continues to grow every day, in this day and age, it is rare to find a business that does not have a digital footprint.

In short, all these options are here to stay and their impact on the digital economy will only increase. The future remains promising, even more so with the incorporation of new virtual reality techniques that will bring a greater sense of realism, allowing users to interact as if they were in physical spaces.