The Digital Economy Will Succeed Only If People Trust It

Bangladesh is moving rapidly towards a digital economy. Mobile financial services, online shopping, digital payments, e-governance, freelancing, online education and app-based services have changed everyday life. This transformation has brought greater speed to the economy, created new types of work and made many services easier to access.

But the most important foundation of the digital economy is not technology. It is trust.

If people are afraid to transfer money online, fear that their personal data will be exposed, receive no remedy after fraud, or order products online only to receive something completely different, their confidence in digital services will decline. And when trust declines, the growth of the digital economy slows down.

Cyber fraud is now a major concern. Fake calls, phishing links, fraudulent websites, hacked social-media accounts and the theft of mobile financial service or bank account information are affecting ordinary citizens. Criminal groups are using technology effectively, but public protection and digital awareness are not growing at the same pace.

Bangladesh needs stronger consumer protection in digital transactions. Reporting fraud must be simple, investigations must be timely, and victims must be able to receive meaningful remedies. Banks, mobile financial service providers, e-commerce platforms and telecommunications companies cannot be allowed to avoid responsibility for the security of their users.

At the same time, personal data protection must become a national priority. A citizen’s phone number, national identity information, financial data and online behaviour cannot be treated as unrestricted commercial assets. There must be clear rules and accountability for how personal data is collected, stored, shared and used.

The vision of a Digital Bangladesh—or a Smart Bangladesh—will only be meaningful if technology makes citizens safer, more capable and more dignified. Easy access to services is important, but secure access is even more important.

The future of Bangladesh’s digital economy will ultimately depend on one question: can people trust it? If that trust is not protected, technological progress will remain little more than a collection of impressive statistics.

 Muhammad Ashikul Alam
Founder, Publisher and Editor-in-Chief, The Mirror News