Digital economy: How can all benefit?
DIGITAL ECONOMY
By MICHAEL JOHN UGLO
THIS is the sixth in a series of articles on digital economy.
In this first part we will address how common people will benefit. Next week we will address how the Government will benefit to be one of the richest nations in the world.
The catch phrase is people can become rich. To achieve this we need to put the strategy in place to achieve our aim. That means through careful evaluations we can give a time frame as to when to achieve that aim.
The following six sub-units will discuss the virtues of the above topic. These include a definition of richness, resources, technology, manpower in technology, production and trade.
Virtually everyone wants to become rich and this is not an uncommon statement. Let’s see how that can be done.
To become rich and in a digitalised economy
At a glance, people can have purchasing power to afford good food, accommodation, healthy bank accounts, cars, the best medical treatment and the world’s best schools. These maybe are some indicators of being rich.
We could achieve those in a digitalised economy. You have to afford them. This implies that you have to have the buying or affordability power to do so.
Of course the way to affordability is to earn the means. This equates to work which is measurable. Thus it means you have to push or pull something over a distance in order to have a measurable quantity called work. This amounts to a phenomenon known as energy that can be measured. Hence affordability involves energy measured in the international metric system unit called Joules named after a famous English physicist called James Prescott Joule.
The next issue to solve in the ascending order is good food. Good food is basically a balanced diet in nutrition. From the balanced diet you have a healthy body and mind. Most central in the balanced diet is your ability to move. Thus it amounts to moving around and the single most important factor that enables you to move around is energy. Hence it can be seen that the joule of energy you needed actually came from the food you ate.
This begs the question of how we get the food we eat. We have seen earlier that we had to push or pull an object over a distance. That creates an atmosphere of a cascading synthesis of energy dynamism. For instance you get a fork and a spade and bush knife to clear a plot. Then after the soil is tilled seeds or plant cuttings are mounted to go through a natural growth cycle by soil, climate, water and sunlight which are a part of the energy synthesis biophysical and chemical systems.
The above two processes are factored into the third process which is technology. Systems can be created that describes the above dynamism with exceedingly high accuracy and rating. So when one wants to check the status of a process by intercepting at an exchange station appropriate algorithm codes can affect the inquiry posted for that part of the calibration.
Hence, it can be seen that one can derive a mathematical function and subroutine to have a structure already in place. This is a system to customise and validate. Further improvements can be made as more information about data and creation of database which will allow for a formal language on its own depending on the specialised activity you want to engage in.
The above can be easily conveyed through the embedded systems of the current technology practice to relay information as far and widely as possible as this and any information can go. Once you have that tool in your hand then, you are obviously going to jump into the race of working at your own pace and start working to earn or afford the best food you need to live.
The above exemplifies the other virtues apart from the best food you will get like earning a lot of money and savings, affording to buy a car, house, medical care and sending children to best schools. It is also advisable to note that you have to put a limit to what you want because of your limitless desire that can lead you into dire problems.
A mathematical model can be designed and its simulation will categorically give you the areas you want to be in and not want to be in because it is deprecating. This is related to artificial intelligence and expert systems devised to give users like PNG to put us into perspective what we really want and it identifies the boundaries of the good things and bad things when we go on craving for more than what is necessarily good for our existence.
Resources
The single largest resources we have are our natural resources. Most of PNG citizens realise that we are blessed with so many natural resources. Our approach to carefully harvesting them and putting them into good use so that our future generations will also enjoy their lives through the use of these resources either directly or indirectly.
We have come this far at the expense of these natural resources. Pause for a moment and see where we are at the moment and then where we are going to. Our non-renewable resource are being harvested at an alarming rate and it is because of their high value in monetary terms. The question that quickly comes intuitively is are we making good use of this resource? Certainly not because the value of these resources amounts to billions of US dollars in world trade while little impact is created in the nation.
Money such as government shares paid may be marginal and or siphoned by officials in the bureaucratic structure. Whatever it is we do not have a reliable and a workable structure that can refuse or deflect or expose such attempts by anyone. Right here and now PNG needs a digitalised economy so it can cater for this aberration.
Fairness & Transparency
The technology system will expose any attempt by anyone to still or mismanage a prudent system. Thus this is the system that PNG will embrace to see totality of its natural resources trading and making money for PNG. I can already imagine a very rich nation of Papua New Guinea.
The second most important resource is the time that we have. We have sufficient time to make those changes happen. We do not have to leave it too late because when our natural resources are gone we could be a failed state with nothing to lean on but seeking aid from abroad. The digitalised economy is time-conscious. When time is factored in business then we are going to see our full potential with what our natural resources can do for us. Of course we can become one of the richest nations in the world like Saudi Arabia, Australia, Singapore, New Zealand or United States.
Digital economy in itself is about time. When you, after the end of a day’s work, try to have a night’s sleep, take stock of what you have achieved for the day from morning through to afternoon and evening. You will be very surprised at how much you have accomplished or how little you have done. That will really spell out the value of time as the second most important resource right after the natural resource.
Digital technology is the third most important resource you have in your hand. It has the capability to lead you to prosperity or destroy you because without formalising the use of this technology some of our citizens are going to use it to their detriment like in pornography, extramarital dating, excessive gaming and videos, wastage of huge amounts of time unnecessarily in Facebook etc.
Technology
Through our discussion so far we have to aligned toward digital technology because of the convenience in opening corridors of opportunities particularly in providing convenience in information and communication accessibility. If there is one thing to stand out in human history to break the communication barriers and information accessibility it is the digital technology innovation after the postal and telecommunication services including telegraphs and facsimile.
The conversion of analogue and indiscrete medium of a variable into a quantised and sampled sinusoidal wave tells us the power of the polarisation in a signal to produce discrete data. These data are can withstand errors and retransmit to greater distances with a very high probability of accuracy.
This is the power of the digital technology. The current or voltage phenomenon of signal is prone to electromagnetic interference from nearby power-lines, weather, travelling automobiles etc. So the superiority in the digital versus the analogue signal makes digital technology and its transmission the best practice. Particularly with the semiconductor technology use comparing the magnetic tapes and disks for memory creation like mercury lines or capacitor memories, scalability and resolution in the graphics raster and vector lines flicker free images, videos and animations with audio productions has made this digital technology the option among other choices to better our lives.
- Michael Uglo teaches Avioncis and Aircraft Engineering at the Asia Pacific Institute of Applied Social, Economic and Technical Studies, Port Moresby.