{"id":87590,"date":"2016-11-09T09:23:30","date_gmt":"2016-11-09T14:23:30","guid":{"rendered":"http:\/\/www.ict-pulse.com\/?p=87590"},"modified":"2017-04-07T19:13:34","modified_gmt":"2017-04-08T00:13:34","slug":"3-essentials-realise-internet-economies-caribbean","status":"publish","type":"post","link":"https:\/\/ict-pulse.com\/2016\/11\/3-essentials-realise-internet-economies-caribbean\/","title":{"rendered":"3 essentials to realise Internet economies in the Caribbean"},"content":{"rendered":"

Although virtually all countries worldwide want to have an Internet economy, many of them appear not to know how to achieve it. Here we highlight three essentials ought to be implemented.<\/span><\/i><\/p>\n


\nFor the past several years, a key goal most countries have envisaged, having expended considerable effort to improve their telecoms and ICT infrastructure and attendant services, is an Internet economy. However, although an Internet economy might be the goal, most Caribbean countries, in particular, appear not to fully appreciate what is needed, and consequently, the effort to achieve the fundamental elements seems to be lacking.<\/span><\/p>\n

Having said this, policymakers continually to agitate for tech innovation and entrepreneurship, not only as signals that an Internet economy is being realised, but also to create opportunities for wealth creation for their citizens, which many of their countries have found challenging. Below are three key steps that ought to be implemented, in order to truly build an Internet economy.<\/span><\/p>\n

1. \u00a0Have the supporting infrastructure <\/span><\/h3>\n

The term \u201cInternet economy\u201d is often used interchangeably with \u201cdigital economy\u201d, which refers to economic activities that is enabled by digital computing technologies (or ICT). Accordingly, access to and the availability of proper and functioning infrastructure is the foundation upon which applications, products and services can be created and\/or used by all segments of the society.<\/span><\/p>\n

It must thus be emphasised that infrastructure does not exist in vacuum. It must be underpinned by appropriate policy and laws, and the environment may need to be regulated, or otherwise managed. Further, the infrastructure ought to work, and work seamlessly, thereby signalling that the country is ready to move to the next level.<\/span><\/p>\n

2. \u00a0Foster e-business <\/span><\/h3>\n

Without a doubt, and once affordable connectivity is available. the populace of a country will take advantage of the ability to access a broad range of offerings available through the Internet. However, when a digital economy does not yet exist in their country, inevitably, they are accessing services created by others, in other countries. To continue along the path of developing an Internet economy, it is crucial that the business landscape adjusts and adapts to that paradigm. <\/span><\/p>\n

In the first instance, the private sector has to become more digitally inclined. In the Caribbean, and as noted over the past several years in the World Economic Forum\u2019s Global Information Technology Report, use of technology by Caribbean business has been and continues to be low. Whilst businesses and their employees might have telecoms and computing devices, their use may still be considered rudimentary, which is also reflected in the systems and processes that businesses have adopted. <\/span><\/p>\n

It is at this juncture, that the development of electronic (e-) government becomes crucial. It not only speaks to computing and ICT connectivity within a major segment of the society, the public sector, but also the potential to realise more efficient, effective and transparent governance. Further, as an entity with which all citizens, businesses and organisations must interact, a government is excellently placed to drive changes in behaviour in its society, by the processes and procedures it adopts. E-government would be no different.<\/span><\/p>\n

3. \u00a0Enable e-commerce <\/span><\/h3>\n

Finally, and in order to move Internet use from primarily entertainment purposes, to a medium for wealth creation, a country must be able to support e-commerce. In the Caribbean, whilst many countries have reportedly enacted legislation that should support e-commerce and digital transactions, their local businesses are still struggling to secure the needed merchant accounts, for example, and ultimately, to successfully sell their products (and\/or services) online. <\/span><\/p>\n

Such challenges point to difficulties in the ecosystem that still need to be addressed. For example, local banks to may not have the capability to support e-commerce, or the process through which to secure an e-commerce facility from a bank is onerous and expensive, and so deters prospective applicants. <\/span><\/p>\n

Consequently, although Caribbean countries have made some strides with respect to infrastructure and fostering e-business, e-commerce has lagged behind. However, based on recent media reports, countries appear to be agitating for greater e-commerce development, which may mean that we may soon have major barriers addressed, which will put us more firmly on the path to building digital economies.<\/span><\/p>\n

 <\/p>\n

Image credits:\u00a0Craig Rodway<\/a> (flickr)<\/em><\/p>\n

______________<\/p>\n","protected":false},"excerpt":{"rendered":"

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