Like any form of human trust, digital trust is also based on our ability to build relationships.
Every digital interaction and transactions are reliant on one core tenet-TRUST. Without it, customers will lose faith in business and companies can rapidly lose value.
Today a large part of our lives takes place online from telemedicine, online learning and e-commerce to remote work or online banking. Every single one of these online interactions are executed upon an unspoken foundation of trust. Trust today is the key currency of the digital economy, and it is the primary criteria on which all decisions are getting made.
Today’s digital world continues to bring incredible opportunities and challenges. And as we navigate through the complexities of this new digital world, trust hangs in the palace. Balancing digital trust in every process and transaction is of the utmost importance.
Today data flows through the public sector on the prism of trust. Citizens, customers, clients, everybody needs to be confident that their data is safe secure and protected. In the light of this the Digital Governance comes into picture. Digital Governance must be built on the effective use and fair distribution of digital data and value extracted out of the data along with enabling effective risk mitigation framework to safeguard the digital data.
Digital Trust, like brand equity, needs to be built over time. Countries and business to have a meaningful say in how technology is being used effectively must look at incorporating the core principal of accountability, auditability, transparency and ethics. Customers are much more confident in engaging with companies who keeps their data safe and secure. Transparency therefore play a key role in building digital trust.
Giving its rising implications, digital trust requires both government and private sector to proactively invest in creating a holistic ecosystem that generates trust. This includes a foundation of secure technology and monitoring tools, governance and policies and innovations. After all the most important aspect of the course is empowerment of people.
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