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No Silver Bullet on Closing the Digital Access Gap | Economic Empowerment | GZERO Media

The weaknesses of a digital economy

Is there any downside to going cashless?

Not really, but there are challenges, Usman Ahmed, head of Global Public Affairs and Strategic Research at PayPal, says during a livestream conversation on closing the global digital gap hosted by GZERO in partnership with Visa.

On the one hand, digitizing payment allows the creation of other financial services around it — mainly access to finance for the unbanked. On the other, there are privacy and security concerns, although these also exist with cash.

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Lowering Costs of Poverty With Digital & Economic Access | Economic Empowerment | GZERO Media

Lowering costs of poverty with digital & economic access

By the end of the decade, 70% of all new value in the global economy will come from digitally enabled businesses. The pandemic accelerated a push toward digitalization, especially in developing nations, yet nearly 4 billion people are still offline, and 1.4 billion don't have a bank account.

Expanding access to digital tools for individuals and small businesses is a no-brainer, but easier said than done. So, what can we do to expand digital trade further, come up with fairer and safer remittances and digital payments, and push to include everyone in tomorrow's digital-first economy?

To get some answers, GZERO hosted in partnership with Visa the livestream conversation "Closing the Gap: Digital Tools for Economic Empowerment," moderated by JJ Ramberg, co-founder of Goodpods and former host of MSNBC's Your Business.

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Watch live October 19: Can access to digital tools transform the world's economy?

Is digitization crucial to economic growth? GZERO Media is partnering with Visa to explore what it means when 70% of the global economy’s growth in the next decade is projected to come from digitally-enabled businesses – yet 3.7 billion people lack internet access. What are the tools and initiatives needed to bring more people into the digital economy?

Live on Wednesday, October 19, our expert panel will explore the impact of digitization on empowering consumers and small businesses. Please register to attend.

Closing the Gap: Digital Tools for Economic Empowerment

Wednesday, October 19, 2022 | 11 am ET / 8 am PT

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