Digital Economy: The New Engine of Growth for Society 5.0

Book chapter


Auwal, B. 2022. Digital Economy: The New Engine of Growth for Society 5.0. in: Khan, S., Syed, M. H., Hammad, R. and Bushager, A. F. (ed.) Blockchain Technology and Computational Excellence for Society 5.0 IGI Global. pp. 204-215
AuthorsAuwal, B.
EditorsKhan, S., Syed, M. H., Hammad, R. and Bushager, A. F.
Abstract

Digital technology-enabled business processes are integrated into the digital economy. Such technologies also enable the internet to conduct digital commerce in a trustless network and decentralized environment. This chapter also draws attention to the new form of economy, which focuses on the development and functions of the digital economy as a new growth engine for Society 5.0 and sheds light on emerging technologies and how the disruptive element of blockchain technology challenges the status quo of the old economy and the underpinning digital disruption imposed by decentralize platformisation. The core components of the digital economy, including digital technologies that serve as the new engine of growth for Society 5.0, were identified. The chapter concluded by highlighting the implications of digital technologies, and how standardisation, upgrading curriculum, legislative frameworks, and policies remedy the impediment of growing the digital economy for Society 5.0.

Book titleBlockchain Technology and Computational Excellence for Society 5.0
Page range204-215
Year2022
PublisherIGI Global
Publication dates
Print2022
Publication process dates
Deposited11 Dec 2023
SeriesAdvances in Computer and Electrical Engineering
ISBN9781799883821
9781799883845
Digital Object Identifier (DOI)https://doi.org/10.4018/978-1-7998-8382-1.ch010
Web address (URL)https://www.igi-global.com/gateway/book/270398
Permalink -

https://repository.uel.ac.uk/item/8x036

  • 43
    total views
  • 0
    total downloads
  • 5
    views this month
  • 0
    downloads this month

Export as

Related outputs

Blockchain, InsurTech, and Smart Contracts: A Review of Compliance and Digital Shifts
Duta, L. and Auwal, B. 2024. Blockchain, InsurTech, and Smart Contracts: A Review of Compliance and Digital Shifts. ICSDI 2024: 2nd International Conference on Sustainability: Development and Innovation. Riyadh, KSA 18 - 22 Feb 2024 Springer.
Blockchain-based Decentralised Application (DApp) towards Achieving a Hunger-Free World
Auwal, B., Duta, L., Sharif, S., Abou-Grad, H. and Ali, A 2024. Blockchain-based Decentralised Application (DApp) towards Achieving a Hunger-Free World. ICSDI 2024: 2nd International Conference on Sustainability: Development and Innovation. Riyadh, KSA 18 - 22 Feb 2024 Springer.
An Effective Hybrid Approach Based on Machine Learning Techniques for Auto-Translation: Japanese to English
Sharif, S., Auwal, B., Maltby, H. and Al-Bayatti, A. 2021. An Effective Hybrid Approach Based on Machine Learning Techniques for Auto-Translation: Japanese to English. 3ICT 2021: International Conference on Innovation and Intelligence for Informatics, Computing, and Technologies. Bahrain, University of Bahrain 29 - 30 Sep 2021 IEEE. https://doi.org/10.1109/3ICT53449.2021.9581629