Most counties are ill-prepared for the digital economy: UN
digital economy
Amid the ongoing Facebook data breach scandal, United Nations on Thursday raised concern over the privacy issue and said that most counties are ill-prepared for the digital economy
Amid the ongoing Facebook data breach scandal, United Nations on Thursday raised concern over the privacy issue and said that most counties are ill-prepared for the digital economy.
United Nations Conference on Trade and Development -- main agency dealing with the economics of globalisation -- Secretary-General Mukhisa Kituyi said: "The current debate about Facebook and data privacy vividly illustrates that most countries are ill-prepared for the digital economy.”
"This is more worrying given that about 90% of new Internet users over the last five years live in developing countries about half of which currently lack legislation to protect their privacy," he added.
UNCTAD further said, "the internet user growth is booming and with more people ever purchasing goods and services online, protecting their privacy must be a top priority."
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"The digital economy is evolving fast. Between 2012 and 2017, the number of monthly Facebook users surged from 1 billion to 2.2 billion – with the fastest growth happening in developing countries."
The economic agency further mentioned about global e-commerce reaching almost $26 trillion in 2016.
Also read: Chris Wylie left in 2014, has no direct knowledge of company's practices: Cambridge Analytica
The United States said to remain the largest market by far, with combined e-commerce sales of some $7.6 trillion, with Japan ranking at second.
The privacy concerns were raised after the reports of UK based data analysis company, Cambridge Analytica assisting in Donald Trump during the 2016 presidential elections came in the light.
The company is facing government search in the London office by US authorities for obtainning Facebook users' data with illegal measures.
Kituyi’s call for increasing security coincides with the agency’s E-Commerce Week in Geneva next month.
It is the leading forum for governments, the private sector, development banks, academia and the civil society to discuss development opportunities and challenges before the evolving digital economy.
(With inputs from PTI)