The global business leading lights who have been pushing hard for frictionless free trade have a new reason to worry. According to the experts, the potential break-up of the Internet has emerged as a big problem for the business leaders.
The break-up of the Internet, which serves as the backbone of the global economy, came up as a hot topic at this edition of World Economic Forum in Davos. The forum intends to provide a platform for debate over methods for maintaining a public cross-border Web in the face of pressures for national regulation.
Indicating towards the various regulatory regimes as an obstacle to network traffic, Vodafone chief executive Vittorio Colao said, “Is fragmentation happening? Quite frankly, there is a temptation.”
A large number of businesses rely on the World Wide Web (WWW), ranging from financial services to tourism. The Internet has also empowered companies, mainly the smaller ones, in order to find the customers in foreign markets, who could be out of reach.
According to 2014 Boston Consulting Group report, the Internet economy is estimated to be worth USD 4.2 trillion in the G-20 economies by the year 2016.
As the Internet service has become an integral part of the modern life, its interconnectivity nature every time hinders the interests of people from all walks of life, ranging from governments to corporate brands to the individuals.
Issues related to copyright abuses and cyber attacks are the two major threats that the Internet is facing today.