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Source– The post is based on the article “Why we need to build a framework for global digital governance” published in The Indian Express on 20th September 2022.
Syllabus: GS2- Science and Technology
Relevance– About digital governance
News– The article explains the need for global cooperation in the field of digital governance.
What is the global example of regulation of internet companies?
The European Union passed General Data Protection Regulation to protect the privacy of individuals. It has also enacted Digital Services and Digital Market Acts.
In the UK, the Digital Regulation Cooperation Forum promotes cooperation between different regulatory authorities like financial, telecom and competition regulators.
Why is there a need for regulation of digital economy?
The big digital platforms have become pervasive. It is not easy to find a digital replacement for them.
Digital platforms have now become our gateway to the internet. They are now seen as infrastructure.
What is the scope for global minimum digital governance framework?
Digital platform economy is global. Complete convergence of the regulatory system is not possible. But we can have some kind of deal.
Under the G20, the International Labour Organisation has already placed a proposal in the employment working group for digital labour platforms to develop an international governance system determining minimum rights and protections for platform workers.
In area of digital taxation, the OECD facilitated Base Erosion and Profit Shifting have arrived at a global solution.
Bretton wood institutions are being proposed as platforms to regulate digital money at an international level.
Another area of potential cooperation is enforcement of anti-trust provisions that prevent monopoly. Countries are moving from traditional methods of enforcement.
How will it be useful?
A common minimum digital governance framework can become a win-win situation for both governments as well as internet companies.
It will help in striking a balance between reining in Big Tech versus boosting their digital economy. Companies are also burdened with regulatory requirements of the different countries they operate in. It will ease their regulatory burden.