‘Facebook privacy concerns expose countries’ unreadiness for digital economy’

The privacy concerns raised after the revelation that a political data firm gained access to millions of Facebook users without their consent “vividly illustrate that most countries are ill-prepared for the digital economy,” the United Nations Conference on Trade and Development (UNCTAD) said.

UNCTAD, the main UN agency that deals with the economics of globalization, said this is all the more worrying given that about 90 percent of new internet users over the last five years live in developing countries where about half currently lack legislation to protect their privacy.

With global e-commerce estimated to have reached $26 trillion in 2016, the agency said that ensuring that no one is left behind in enjoying its benefits is vital.

It said that internet user growth is booming and with more people purchasing goods and services online, protecting their privacy must be a top priority.

“We know that the digital economy can bring great benefits to developing countries, but we need to address some critical questions to ensure that digitalization leads to the future we want,” said Mukhisa Kituyi, UNCTAD secretarygeneral.

Kituyi’s call coincides with the agency’s E-Commerce Week – the leading forum for governments, private sector, development banks, academia and civil society to discuss development opportunities and challenges before the evolving digital economy.

E-Commerce Week, to be held on April 16 to 20 in Geneva, will look into the role of evolving technologies to strengthen sustainable development. It would also feature events on digital identities and protection of online consumers, conducting trade and e-commerce in the digital era, blockchain technologies, and role of regional banks.