Challenges and threats of the digital economy: first results and a vector of further development

Abstract

Purpose: to analyze the possibilities and limitations of the practical application of key technologies of the digital economy. Discussion: information technologies modify existing business models, significantly reducing transaction costs. However, the issue of protecting of commercial information and personal data is very acute. It is necessary to create a legal framework that regulates the relationship between customers and owners of digital platforms. The new model of the digital economy also requires certain institutional modifications. The emergence of new formal and informal institutions should regulate the rules of conduct of economic agents in the digital economy, exclude the possibility of their opportunistic behavior. Results: answers to the main challenges of the digital economy are formulated.