Digital transaction security: the cornerstone of trust

The security of digital transactions and payments has become a priority for governments, businesses and individuals around the world. We already depend almost totally on the Internet in the context of our daily lives. Yet, the level of trust in the computer network is expected to fall to 25% in two years’ time. This highlights the need to optimize the security of the digital ecosystem if we are to take full advantage of it.

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The key role of governments and central banks in securing digital transactions

Security is a very broad term. Similarly, the term “cyberattack” evokes just as wide a range of threats for users carrying out digital transactions. We are talking not only about data theft, but also identity theft. The integrity of our “digital self” is at stake from the moment we switch on a device to make or receive a payment. The fear of potential attacks creates distrust in the ecosystem, which can undermine financial inclusion and the move towards a cashless society.

Building trust in the Internet is not only up to private companies operating in the digital economy sector. Yes, they can launch powerful campaigns to reinforce the trust of their customers. But governments and central banks also have a key role to play. Trust, in this case, has to be built from the top so that it can then cascade down to the end-user.

The key is to protect users. Indeed, without security, there can be no trust in the digital ecosystem. And without trust, it will not be possible to achieve the expected financial inclusion objectives.

GVG, your trusted security partner

So where do governments start to optimize the security of the digital ecosystem and thus strengthen their citizens’ trust?
More than ever, public-private collaboration is key to boosting this critical capability. GVG provides the technological tools necessary to meet this challenge and build a trustworthy ecosystem for all.

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