Professional Diploma in Information Technology

Daw Yu Yu Win
M.C.Sc, B.C.Sc(Hons:), B.C.Sc
Information Technology Lecture
 Databases and Digital Economy
A database is an organized collection of data,
which can be used:
• alone, or
• combined/
related to other data
for multiple purposes.
 Databases and Digital Economy
A database management system (DBMS) is a

collection of programs that enables

to store, modify, and extract information

from a database.
 Databases and Digital Economy
DB & DBMS
Database refers to a set of related data and the way it is structured
or organized.
Access to this data is usually provided by a database management
system (DBMS) consisting of an integrated set of computer
software that allows users to interact with one or more databases
and provides access to all of the data contained in the database
(although restrictions may exist that limit access to particular data).
 Introduction to Digital Economy
 Digital economy refers to an economy that is based on digital
computing technologies.
 Digital economy is worldwide network of economic activities enabled
by information & communication technology (ICT).
 The digital economy is also sometimes called the Internet Economy,
the New Economy, or Web Economy.
 The digital economy is not simply about moving business transactions
from face to face to online.
 The digital economy is about transforming the many facets of
business interactions and transactions and also enabling economic
innovations.
 Continued…
 For example, the digital economy both is enabled by and has given rise
to the advent of new digital currencies and payment processed (i.e., and
the digital wallet).
 Three main components of the ‘Digital Economy’ can be identified as:
 E-Business Infrastructure (hardware, software, telecoms, networks,
human capital, etc.),
 E-Business (how business is conducted any process that an
organization conducts over computer-mediated networks),
 E-Commerce (transfer of goods, for example when a book is sold
online).
Some examples of digital economy
The digital economy includes:
• E-commerce,
• E-marketplaces,
• Online educational courses.
• Streaming platforms,
• Social media,
• Video conferencing,
• Work-from-home options,
• E-health, etc.
Major IT Characteristics in the Digital
Economy
• Globalization
• Speed (need for real-time transactions)
• Information overload
• Markets moving on-line
• Innovation
• New business models
• High rate of obsolescence
• New opportunities
• New types of fraud and crimes
 Continued…
 Based on digital technologies (networking, communication etc.)
that provide the platform (infrastructure) over which people and
organizations interact and collaborate.
 Digitized products
 Digitized financial transactions
 Everyday objects and appliances equipped with computing
capabilities
 Advantages
 As the economy is cashless, a lot of paper will be saved.
 Many crimes like corruption, kidnapping and extortion require cash,
In a cashless economy, no such crimes would have their existence.
 As the entire money is digital, no term like Black money and green
money would exist.
 Just by charging a small percent of transaction as tax, government
would be earning a lot of revenue.
 As a computer would be looking at truncations and charging the tax,
a lot of government revenue will be saved as there would be no need
of departments like Income Tax, Excise Duty etc.
 Disadvantages

 There would be registered bank accounts of every person.

 A digital system means a lot of power (electricity) is required for this
system.
 It is required that every shopkeeper, vendor, taxi driver should have
machines and gadgets to accepted the transaction.
 The greatest harm to this economy is hackers.
 Every citizen should be literate.
 Solutions always exists…
 Even if people are not literate, they can learn to operate the electronic purse.
 Hacking problem can be solved by ideas like one time passwords(OTPs) and
security can be made more difficult to cross.
 All the locales would install the required machines to accept transaction as
the necessary change generates itself.
 If solar power plants are installed, a lot of clean and cheap energy will be
generated which means in effect that the problem of power would be solved.
 Once the economic system comes into existence, more and more people
would join this system, given its advantages. Awareness would compel them
to open up with bank accounts.
 What are the emerging trends in digital
economy?
• 5G
• Faster WiFi
• AI and Machine Learning
• Analytics for Everything
• Robotic Process Automation
• Customer Service Automation
• XaaS: Everything-as-a-Service
• Digital banking in the Digital Economy
 Key Attributes of Digital Economy
 Ubiquity: The digital economy is pervasive and operates through
a variety of channels including the Internet, mobile devices, and
other digital platforms.
 Interconnectivity: The digital economy is highly interconnected,
with digital devices and platforms enabling seamless
communication and collaboration among users.
 Mobility: The digital economy is highly mobile , with users able
to access digital content and services anywhere, anytime, and on
any device.
 Continued…

 Personalization: The digital economy enables users to personalize

their experiences, with customized content and services that meet
their individual needs and preferences.
 Socialization: The digital economy facilitates social interaction
and collaboration among users, fostering a sense of community
and connection.
Why is the digital economy important?
 The world is moving at a faster pace.
 The global village now houses almost eight billion villagers; keeping
them all connected is a herculean task.
 A digital economy is a tool that can achieve this.
 It increases connectivity, enable mobility, and is ubiquitous.
 It has the potential to revive and support many industries and sectors.
 It increases responsiveness, is flexible, and can speed up the pace of
economic activities.
Thank You!
