”One day there will be no borders, no boundaries, no flags and no countries and the only passport will be the heart” — Carlos Santana
Sounds like a utopian (or dystopian, depends on your fantasy) future, doesn’t it? Well, musicians are the kind of folks that always tend to romanticize things. A human heart isn’t quite reliable, you know… And in the meantime, AI, blockchain, IoT, cloud computing, big data and co. have been successfully pushing globalization further into a digital phase where data transmission plays a decisive role.
What’s it all about?
Digital globalization is a dynamic process. It intertwines national economies and societies into a new complex organism that exists beyond any borders and inside every sphere and is fed by developing computer technologies.
What do we got for now?
International flows of goods, services, finances and information in the digital realm has edged out conventional commodity flows as the most growing aspect of economy. Those completely new type of products alongside content for downloads or online broadcasting are vital piece of current global trading system. An intangible asset here is the Internet traffic generated by corporations and consumers. A worldwide use of broadband network inevitably created a global online environment and immediately elevated e-commerce, which is important to compete in the market. Online marketplaces are incredibly convenient and contain stuff available all over the globe in addition to domestic market products. On top of an already blistering roll of electronic trading in recent years, its pace got accelerated by the pandemic even more.
If there is something to sell, for sure, there is a place for advertising. In an era of free access to basically anything on the Web, it is relatively easy to attract an audience. Furthermore, digital advertising on free online resources brings a good income.
Digital financial services providing online payments have also gotten into this trip to the united community. Cryptocurrency floats gracefully the world over and makes a statement to be not only a decent alternative to traditional money but also a universal currency in the future.
Digital globalization gradually assures that small companies reach a new level of operation in advanced industry sectors, whereas some developing countries become innovative centers by means of international science and education, active technology exchange and intensive foreign investments inflows.
COVID-19 situation didn’t mess around with the globalization process and nudged society closer to it by making employers transfer their personnel to remote work. As a result, cost optimization, comfortable conditions for employees and a step closer to the future.
Any difficulties?
Although some countries are going down this ”highway” fast and furious, many others either are slowly working their way on foot or haven’t even come close to the road yet. China and a couple of developed countries generate a lion’s share of global digital flow. The others just don’t keep up, which puts off a cyberpunk world a little bit.
Another thing is the Web. It is a milestone of the whole process. But due to poverty in a bunch of areas, very little percent of their population has Internet access. It sets a barrier between poor people and technology and means that they are ”offline” and cut off the process of global communication.
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