digital-economy-small

Panel 3.1 Consumer Trust and Market Growth

With increasing interconnectedness, a dynamic and innovative e-commerce marketplace has developed, consumers have been playing a more active role and an economy of sharing has emerged. Despite this, business to consumer e-commerce has not reached its full potential, still representing a relatively small share of overall retail sales. Well-tailored consumer protections can encourage e-commerce and provide the opportunity for the online marketplace, including the sharing economy, to prosper.

This panel explored the link between consumer trust and market growth, discussing how consumer policy can encourage e-commerce within and across borders. It consider ways to promote the revised OECD 1999 E-commerce Recommendation and steps to encourage its implementation. It also addressed a set of challenging consumer issues raised by emerging business models associated with the sharing economy.

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Panel 3.2 Managing Digital Security and Privacy Risk

The opportunities presented by the digital economy will not be realised in the absence of trust. Digital security incidents are growing in both number and sophistication each year. These incidents can lead to significant economic and social consequences for public and private organisations. Examples include disruption of operations, direct financial loss, lawsuits, reputational damage, loss of competitiveness (e.g. in case of theft of trade secret), as well as loss of trust. Today's digital environment also challenges existing frameworks for personal data protection with potential adverse consequences on individual privacy and individual trust.

The panel showcased important lessons from countries in developing and implementing digital security and privacy risk management strategies, and explored options for greater policy coherence at the national level. It discussed the impacts of digital security and privacy incidents on the market place. It also explored how to address the particular challenges facing small and medium entreprises and individuals, as well as the opportunities to develop and implement effective risk management strategies tailored to these stakeholders.

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