Can you imagine how small the world is today?
Don’t underestimate the business processes working towards the convergence of our economy. No matter where you are; whether in the shower or sitting on the couch and binge-watching your favorite #Netflix show, you can literally get hold of every item you ever want. Watching sports and feeling hungry? Your ‘digital waitress’ is waiting todeliver your favorite dishes. Browsing through the internet and came across a classic novel, which is otherwise not available in the local book stores? Order it online and the book shall reach your home in a few days.

Time and Distance Being Converged Together
With the internet being perfectly positioned into our daily lives, distance is just a number. Can you imagine how much futuristic is the world we are living in? Well, it may not be as glamorous as depicted in some of the sci-fi movies; for instance, it’s not yet possible for us to travel time, or live in space. But, one thing is for sure, Digital Transformation has allowed us to beat the fundamentals of time and reach out to different places of the planet without the need for shifting our positions. You live in Delhi but you can buy goods from Beijing. How cool is that?

India as a Digital Economy
If you think that the emergence of digital technology has only changed the lives of the ordinary population, you are partially mistaken. You should be aware that behind this revolutionary technology lies a big circle of masterminds. They have been working together towards a common economic goal of establishing a digital economy. In this economy, everything is accessible to everyone, given that they have a fast internet connection. If you are not sure what exactly is denoted by a
digital economy, here is the simplest definition you can ever come across. You see, a digital economy is mainly revolved around internet-based solutions. In this type of economy, you carry out the essential steps of social life using computing devices. We might say that the current Indian society is on the verge of transformation. Well, so far, we haven’t truly adapted all the necessary measures to be considered as a completely digital economy. However, certain social and economic reforms are ensuring that we reach the goal soon. If you look around, there aren’t many vendors around the country that doesn’t accept digital transactions. Paper money is still an integral part of the Indian economy. But it’s a sign of development that today, a considerable share of transactions is paperless. So, why is everyone concerned about the transformation of traditional economies into digital ones? What’s in there for the general public?

United Workforce for a Better World
It is an evident truth that whatever decisions a government takes has a direct impact on every citizen’s lives. Well, it can also have an indirect relation with the same. For example, during the world wars, leading economies of the world were massively affected. However, if you look at the economy of the world superpower America; they weren’t affected that much. Well, there are multiple theories behind the same.
One of the most common debates is that they had got the support of the majority of countries around the world. More importantly, it was their victory in the war that avoided any massive economic breakdown. In terms of the digital revolution, the World Wide Web, telecommunications industry, electricity infrastructure, and other notable contributors around the planet are coming together to bring forward a solution for the global citizen. This will ensure that the profits of the economy would be shared by a greater number of people. In a democracy like ours, it is the people after all, who shall be benefitted the most.

A Society Free Of Black Money
Similarly, the digital economy slowly getting into the everyday lives of people comes with several benefits. The first one is transparency in monetary transactions. With banks, you could have sent money to some dealer of sarees. He withdrew the money and invested the amount back to his business, excluding the profit margin. Whether he uses that money for recreation or invests in drug and arms, no one had a trace. But with digital monetary platforms, such a menace can be well regulated. Every transaction would have its own unique ID. This would enable the governments and regulatory banks to trace where their money is been sent. Black money, which is one of the biggest concerns of the modern-day civilization, is about to face its adversary in the form of digital currency, as one cannot hide the transaction at any costs.

Digital Economy Gives Power to The Less Fortunate
Last, but not the least; how can one ignore the fact that even the weaker sections of the general population are giving birth to entrepreneurs these days. With the internet and e-commerce facilities accessible to all, there is a slight barrier between the powerful class of people and the less fortunate ones. Today, there are millions of online sellers. What’s more interesting is that most of these sellers are emerging out of smaller towns.
Gone are the days when only the metropolitan cities around the world used to be considered as economic heavyweights. Today, with the digital economy being on our side, small businesses have the authority to sell their services and products to a larger market. The market is not restricted to its national boundaries. International borders are shrinking; customer behavior can be tracked using sophisticated digital tools, enabling the business owners to make smarter decisions than ever before.
It seems that the digital economy has its perks. The only way to truly utilize it is to actively participate in it. We are citizens of a truly global village The only way to make the best use of it is to put in the efforts and the results shall follow. Digital transformation is the revolution of the business world as a whole. Innovative technology, together with smart business solutions entirely changing the way this world communicates.