Förderverein Informationstechnik und Gesellschaft
E-Commerce Must Jump Regulation Obstacle
Jun 7, 1999 (2:09 PM)
MONTE CARLO, Monaco -- The Internet promises to revolutionize the world of business, but first, a few hurdles must be overcome. Early in the next century, IT devotees said they believe e-commercegenerated over the Internet will become a ubiquitous force.
U.S. research company Forrester Research said it predicts the global Internet economy will be worth $3,200 trillion in 2003, up from $80 billion in 1998. In 2003, the Internet economy will account for 5 percent of the world's gross domestic product, according to Forrester, in Cambridge, Mass.
But some experts say these hopes will not be realized until governments around the world agree on an acceptable framework of rules.
"You can't legislate totally for something you don't fully understand. We will get agreement, but it will take time. In Europe, we are probably two years away from agreement; globally, it will take many years," Drobik said.
"Governments are starting to get a balance between free markets and genuine protection. We are in a much better state than we were a year ago," he added.