• Journal of Distribution Science
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• v.21 no.4
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• pp.11-20
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• 2023

Purpose: 1) develop a learning model involving design thinking to develop creative economy innovation and the characteristics of digital entrepreneurs. 2) evaluate the impact of design thinking on creative economy innovation 3) evaluate the impact of design thinking on digital entrepreneurial ability. Research design, data and methodology: 1) develop a learning model involving design thinking in order to develop creative economy innovation and the characteristics of digital entrepreneurs. 2) Evaluating creative economy innovation involving design thinking. 3) Assessing the characteristics of digital entrepreneurs based on design concepts. Results: 1) the development of a learning model involving design thinking to develop creative economy innovation and digital entrepreneurial competency 2) The students who studied using the learning model involving a design thinking process had the highest overall scores in terms of creative economy innovation 3) The scores for the assessment of digital entrepreneurial activity for the students who studied by using the design thinking learning model were at a high level. Conclusions: The development of the design thinking learning model can encourage students to be able to develop creative economy innovations and to empower digital entrepreneurs' ability for distribution strategy. Educational institutions that would like to succeed in developing creative economy innovative and digital entrepreneurship characteristics with the support of design thinking.

• STI Policy Review
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• v.9 no.1
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• pp.133-157
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• 2018

The divide between the "digital" economy and the traditional "physical" economy is outdated. In fact, we are in a transition to a singular economy. This paper classifies economic objects (including actors) as either physical or virtual and argues that due to emerging technologies, these objects are interacting with each other in both physical and increasingly digital spheres in tandem. This paper recognizes the elemental difference between atoms and bytes but argues that physical and digital economic activities are becoming inseparably intertwined. Furthermore, arbitrarily dividing the economy into two categories - one "physical" and the other "digital" - distorts the overall view of the actual execution of economic activity. A wide range of innovations emerging concurrently is fueling the transition to a singular economy. Often referred to as the elements of the Fourth Industrial Revolution (4IR), four emerging technological areas are reviewed here: distributed ledger technology, artificial intelligence/machine learning/data sciences, biometrics and remote sensor technologies, and access infrastructure (universal internet access/electricity/cloud computing). The financial services sector is presented as a case study for the potential impact of these 4IR technologies and the blurring physical/digital line. To reach the potential of these innovations and a truly singular economy, it requires the concurrent development of social, organizational, and regulatory innovations, though they lag in terms of technological progress thus far.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.43-54
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• 2021

The study evaluates India's technological advancement, which has created a range of opportunities for consumers to enter into digital payment space. Demonetization in India has forced all consumers and companies to embrace and create cashless digital payment platforms. The cashless economy scenario involves various factors for its adoption such as reach, availability and awareness. This study considers factors responsible for adopting new digital payment technologies in India's different regions across various consumers. The study includes descriptive statistics and variance analysis (ANOVA) to identify elements to achieve maximum satisfaction. The research collects data from 250 respondents living in India, experiencing digital payments and online transactions. The data is collected through a structured questionnaire and critically analyzed using statistical analysis. The data has been analyzed with no sectorial biases and tracked by creating real-time indications. The study uses various hypotheses after taking responses from a sample of respondents. Cronbach's Alpha analysis is also used to determine the validity and reliability of the data. The study illustrates the complete shift of consumer behavior from cash to a cashless economy. A certain number of factors are shown to directly influence the rate of such a shift toward digital transactions in India.

• Journal of the Korea Society of Computer and Information
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• v.23 no.10
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• pp.73-80
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• 2018

The shared economy began with the concept of sharing the physical and intellectual assets of individuals with others. Nowadays, the concept of shared economy is becoming one of the industries as an enterprise type. Especially, with the development of the Internet and smart devices, various forms of shared economy have been developed in accordance with the need of sharing of individual income. Digital content is also a shareable commodity and it is seeking to utilize it as an item of shared economy. Accordingly, when digital contents are used as a shared economy, there are various possible threats -security threats that may arise in the course of transactions, potential for theft, alteration and hacking of contents. In this paper, we propose transaction method and content protection method using block chain-ethereum technology to reduce security threats and transparent transactions that can occur in digital contents transactions. Through the proposed method, the trust of the consumer and the supplier can be measured and the encryption can be performed considering the characteristics of the data to be traded. Through this paper, it is possible to increase the transparency of smart transaction of digital contents and to reduce the risk of content distortion, hacking, etc.

• Korea Trade Review
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• v.47 no.6
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• pp.335-353
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• 2022

There are two aspects of digital trade: the digitalisation of goods/services being traded and the digitalisation of the transactional act. Digital data (i.e. machine-readable industrial data and transactional data) is the major driving force for both aspects of digital trade. Digital data is a non-rivalrous input, whether for production or marketing activities, and is thus able to be used by many firms or government agencies without limiting the use of others. Digital platforms provide online infrastructure for the interactions between groups, for instance, consumers and producers. The externality effect refers to the situation in which prosperity in one group on a given platform will improve the returns of other groups on the same platform. In the era of the data-driven economy, strategic trade policy can involve data-related policies. The major objective of these policies is to improve the competitiveness of domestic firms. For instance, firms may be subsidised if they use cloud services provided by specific platforms. This strand of strategic trade policies might be useful for increasing the competitiveness of small-and medium-sized enterprises (SMEs) via the digitalisation of production/marketing processes. Alternatively, strategic trade policy may also exploit the externality effect via platform economy-related policies. Further, some countries may form data coalitions to facilitate cross-border data flow. This paper uses cases in Asian countries to illustrate which role these strategic trade policies can play in the digital economy.

• International Journal of Computer Science & Network Security
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• v.21 no.4
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• pp.186-198
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• 2021

The introduction of digital technologies affects most socio-economic processes and activities in the economy, from agriculture to public services. Even though the world is currently only in the early stages of digital transformation, the digital economy is growing rapidly, especially in developing countries. Shortly, digital platforms will be able to replace the "invisible hand" of the market and turn it into digital. Some digital platforms have already reached global reach in some sectors of the economy. The growing value of data and artificial intelligence is reflected in the high capitalization of these enterprises. Their growing role has far-reaching consequences for the organization of economic activity and integration into the field of e-business. However, their importance and level of development in different countries differ significantly. The main purpose of this article is an assessment of the level and trends of the digital economy in the world and the identification of homogeneous groups of states following the main trends in the development of its components from among the EU countries. The methodology of the conducted research is based on the use of general scientific research methods in the analysis of secondary sources and the application of statistical methods of correlation-regression and cluster analysis. Macroeconomic indicators and components of DESI (Digital Economy and Society Index) were used for the analysis. Results. Based on the analysis established that most developed countries have a medium level of digitalization of the business environment and a high level of digitalization of socially oriented public services, while countries with lower GDP focus their policies on building digital infrastructure and training qualified personnel. The study summarizes and analyzes current trends in digital technology, analyzes the level and dynamics of integration of digital technologies of the studied EU countries, the level of development of e-business and e-commerce. The conceptualization of mechanisms of creation of added value in the digital economy is offered and the possible consequences of digitalization of the economy of developing countries are generalized.

• Fourth Industrial Review
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• v.2 no.1
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• pp.33-43
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• 2022

Purpose - With the rapid development of information technology, the digital economy has become an important grip of the new development pattern, and the digital transformation of enterprises is a major trend. As SMEs are the mainstay of the economy and employment, it is important to study the digital transformation of SMEs to promote the development of the digital economy. Research design, data, and methodology - Based on a resource-based view, this report analyses the current situation and issues of digital transformation of SMEs from the perspective of digital orientation as well as the breadth and depth of technological capabilities of enterprises, using data from a survey of 200 manufacturing enterprises in China. Result - The results show that SMEs generally have a digital transformation mindset, but a weak digital foundation. In order to execute a digital strategy, companies need digital transformation capabilities. These behavioral capabilities are guided by the strategic direction of the business, and companies with strong capabilities are always trying to tap into the full digital potential. Conclusion - In order to effectively promote the digital transformation of SMEs, we suggest that SMEs pay attention to digital capability building, make good use of digital platforms and network resources, and lay a solid foundation for digital transformation; meanwhile, we suggest that government departments play a guiding and supporting role to build a cross-industry and cross-sector digital synergy system to help promote the development of SMEs' digital transformation. This paper presents some suggestions from both the internal and external environment of the enterprise, with the expectation of contributing to the digital transformation practices of SMEs.

• International Journal of Computer Science & Network Security
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• v.21 no.8
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• pp.187-195
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• 2021

The intensification of the processes of the digital economy development is leading to the transformation of the higher education system. Universities are forced to digitalize their own educational, research, international, marketing, financial and economic activities in order to maintain a competitive position in the global market of educational services. The purpose of the article is to study the role of information and communication technologies in the development of the higher education system and to ensure its adaptability to modern challenges of digital economy. To achieve this goal, methods of content analysis, logical generalization, systematization and a structural-functional method are used. In the article, the authors substantiate the urgency of forming a holistic strategy to ensure the adaptability of higher education to the challenges of digital economy. In the structure of this strategy, the information-technological block is singled out and described. The authors specified a set of positive synergetic effects from the introduction of modern information and communication technologies in the activities of universities. The main information threats to the digitalization of higher education related to the protection of personal data and university systems from cyberattacks and fraudulent schemes are identified. In conclusion, the authors detail the measures for the strategy implementation to ensure the adaptability of higher education to digital economy.

• Journal of Digital Convergence
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• v.16 no.8
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• pp.193-200
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• 2018

Recently, there are high expectations of a society benefitting from a digital sharing economy. However, to establish a digital sharing economy, one needs to first create a reliable social structure. Transparency is recognized as the most important measure of value in not just politics or economics, but also in all domains of our lives. Although all nations strive to create "societies based on credit and trust," in truth, rigidity, irregularity, corruption, and inefficiency are widespread in all aspects of society. Thus, there is a growing interest in blockchain technology, also called the "second Internet revolution," seeking trust in digital environments, although it is difficult to obtain trust in such environments. However, the principles and methods of evaluating blockchain technologies are still unclear and not standardized. This study addresses the evaluation indexes such as transaction per second, maximum data size per one transaction, accuracy and blockchain technology application methods in the digital sharing economy and suggest ways to safely vitalize a blockchain-based digital sharing economy.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.305-315
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• 2021

This article aims to explore the contribution of social media value to a company's financial performance in a digital environment economy since the awareness of companies and investors in the use of social media opens up new mechanisms for disseminating information. Quantitative method is used in this study with Multivariate Analysis of Variance as the analysis tool. The data used is secondary data gathered from Indonesia Stock Exchange (IDX) using 308 companies as samples. In the multivariate test, four kinds of multivariate significance tests were carried out, namely Pillai Trace, Wilk Lambda, Hotelling's Trace, and Roy's Largest Root. It was found that social media value has a small contribution in the difference of the level of profitability and the value of the company in Indonesia, but it doesn't have a contribution to the difference of the level of liquidity. The contribution was an implication of online Word of Mouth (WOM) motives which are interrelated with signal theory and as additional information for investors in relation to single-person decision theory. This study provides an insight into the importance of social media management considering that the world of digital economy will continue to develop, so companies in Indonesia need to take advantage of these opportunities.