Digital Economy | The new economy
What is the digital economy?
A digital economy is an economy that is based on digital computing technologies but is often perceived as conducting business through markets based on the internet and the World Wide Web. It is also known as the Internet Economy, New Economy, or Web Economy.
The advent of the digital economy is due to the revolution of digital computer technology which has significantly affected our lives from the way we interact with each other, business transactions, education, and social media.
It has a greater impact on how trade and businesses are been done across the internet, for example, a teacher or an expert might render his teaching expertise for a certain amount of fee over the Internet and make money from the comfort of his home, a social media influencer might promote or advertise products to his followers and make money, individuals with small scale businesses can make money by posting their products on their social media handles.
Digital Economy helps and allows easier access and removes the Barriers of time, location, devices, and the Digital divide because today almost everyone has fair access to the internet irrespective of his social class.
The digital economy isn’t just restricted to only one sector, thus there are various forms of the digital economy, some of which include:
- E-commerce such as Amazon, Alibaba, Jumia, AliExpress e.t.c
- Digital Banking such as Kuda Bank, Rubies, Wema e.t.c
- Cryptocurrencies
- And Even traditional sectors such as agriculture, education, transport, and art to mention but a few.
The digital economy has unlimited effects on our lives today, especially with the emergence of Artificial intelligence technology (AI) where we can have a self-driven cars, smart homes, automated manufacturing technology, and the list goes on.
Some of the challenges of the Digital Economy include:
- Lack of Enough Digital Skills
- Lack of Proper government intervention
- Low internet connectivity
- Digital divides
- Lack of frequent training and update
- Insufficient finance
- Inadequate access to the latest technology
- Lack of sophisticated telecommunication technology
- Low computer literacy
- And some social, cultural, and economic factors
- ADVANTAGES OF THE DIGITAL ECONOMY
Can you make money on the Internet without any capital?
The answer is capital Yes, but this required skills and knowledge of which you would provide in return.
There several areas of which you can make money online with zero capital.
- Blogging : you can create a blog website for free using blog, upload huge contents and, monetize it and make not less than 100 dollar a month to some extent to even over 1000 dollars a Month depending on the traffic you are able to generate per month with the help of you SEO that is Search engine optimization skills that you have
- Youtube : you can creat YouTube channel for free, make unique and great videos, upload them, monetizes and make money with it, today many content creators solely depend on Youtube thereby making money and living a healthy life.
- Service provider: You can offer service online by leveraging on either WhatsApp group or telegram where you charge each interested member who wish to join your group and pay for certain fee in return of the skills he would learn from you.
- Social Media influencer : of course a lot of people have already made huge money in this industry and they are still making, the only thing it takes is to look at area of interest and equip your self with all the necessary skills that would allow you influence and generate huge followers depending on your target audience.
- Account Manager/social media marketer: You can take social media marketing course online from professional websites such as Udemy, Skillshare, Coursera e.t.c, establish strong social media presence, look for companies and businesses who might need your services, offer them in return for money
However there are infinite way to make money online with zero capital, but for the sake of this gathering, insha’Allah Next week we are going to look at how to make money with blogging using blogger by google for free.
