This week, technology evangelists Leslie and Subu discuss the suing of Facebook and the massive Covid induced push that India is facing to change from a cash to digital economy and its impact. As we know, last week, 48 American states filed a lawsuit in a DC district Court against Facebook and, among other things, wanted the social media behemoth to be ‘broken up’ into smaller companies. The justification, which emerged out of the 128-page lawsuit, was that Facebook has become too big, too powerful, killing smaller innovative companies and crushing competition with its massive cash power.
As the experts discuss how the US law enforcement apparatus has utterly failed to deal with the era of digital misdemeanors, the dialogue shifts to India where Facebook is huge and the social media giant has also invested in Reliance Jio. The question arises: ‘If Facebook is split, what are the ramifications on both companies and Facebook users?’
The duo also turns the spotlight on whether Covid-19 has given the much needed digital push or is it too early for India? As RedSeer Consulting predicts India’s digital payment market was worth around Rs. 2,162 trillion in 2019-20 and this is expected to grow over three folds to Rs. 7,092 trillion by 2025. Mobile payments will drive around 3.5% of these payments. In 2010 India was 100% cash economy and in 2020 it is 89%, making India largely a cash economy. They explain the implications of this aggressive movement from Cash to Digital Economy. A pertinent question arises is that, if India is matured enough to manage the change?
Do not miss out on their witty banters and the informative and engaging video conversation.
