27.2 C
Batangas

Free flow of data across borders crucial to PH’s digital economy dev’t—digital advocate

Must read

- Advertisement -

THE digital economy’s cross-border nature is crucial to its success.

This was one of the key points raised by Jeremille Raton, a digital advocate and business development manager for the Asia Pacific Region of Tiaxa, a Chile-based technology and data science company.

Raton, who served as a discussant during a webinar on digital taxation recently organized by state think tank Philippine Institute for Development Studies (PIDS), noted that the digital economy presents opportunities for Filipinos as it can create new sources of revenues, particularly for the government.

However, he noted that while taxing the digital economy is essential, having “continuous [and] free-flowing data between borders… is crucial for the development and maturity of the digital economy”.

He added that with the flexibility of data and its ability to grow and be replicated and transferred, new products and services will emerge, creating a ‘culture of innovation’ among people.

“It is to everyone’s advantage to have free access to data,” Raton said.

He suggested the ‘regulatory sandbox’ approach, where solutions can be created and tested, to regulate digital transactions without hampering growth.

“For me, we have so many regulations. We have [one on] data privacy, security… We have complete regulations. But what we can do is to create this regulatory sandbox to allow stakeholders to fail and succeed,” Raton explained.|

- Advertisement -
- Advertisement -

More articles

Hyperbole, by its nature, amplifies our expressions, making the mundane magnificent and the simple, spectacular. Here’s one for the books. Imagine a fiesta in Iloilo, where the atmosphere is "charged with excitement thicker than a bibingka's sweet coconut topping." The...
The government is lumping up relief packages needed by local government units (LGUs) affected by Typhoon Carina and the southwest monsoon (Habagat). President Marcos revealed this during an ocular inspection in Malabon City on Thursday. Earlier in the day, the Chief...
A Philippine-flagged Motor Tanker (MT) Terra Nova capsized and eventually submerged at 3.6 nautical miles east off Lamao Point, Limay, Bataan, at around 1:10AM today, 25 July 2024, the Philippine Coastt Guard reported. PCG Spokesperson, CG Rear Admiral Armando Balilo,...
- Advertisement -

Latest article

- Advertisement -