N-GEN Communications Web-based Seminars ©NGCS

Seminar - An Overview of Communications Technologies

Module 6 - Internet, Intranet, Extranet, e-Commerce and Web Services                                      Slide 47 of 70 _________________                                                                                  __________

                                    e-Commerce Issues and Concerns

                                        Legal

                                        Regulatory

                                        Taxation 

                                        Digital Currency in a Global Environment

_________________                                                                                  __________

Global electronic commerce has an impact on legal and regulatory policies. There are no standards for global e-Commerce. The borderless cyberspace digital environment requires innovative ways to address issues such as taxation, intellectual property, copy rights, patents and privacy. International legal policies are required to address digital currencies, digital signatures, contracts and settlements. At the same time too many regulations will stifle e-Commerce growth. Many nations have proposed frameworks to address these issues and concerns.

Legal Issues and Concerns - Protection of intellectual property rights, protection of copyrighted material, protection of individual rights and privacy, currency and tax issues, Export of digital material, validity of electronic contract and jurisdiction in cyberspace.

Regulatory Issues and Concerns - The regulations to protect public interest such as intellectual property rights, privacy, electronic payment and undesirable contents.

Taxation Issues and Concerns - North America has a manufacturing based economy. Industries manufacture products and sell them to consumers through various channels. In our system a vendor collects and pays sales tax to the state and the province. Our systems have geographical limits. A taxation system has to be devised for  cyberspace.

Digital Currency in a Global Environment - A digital currency represents value of physical currency and is associated with an authorized financial institution. In other countries - not easy to monitor their digital currency systems. A system is required whereby a consumer can purchase a product from a country and make payment by a digital currency.