Fonepay Digital Economy Conclave 2022: The second edition of the PhonePay Digital Economy Conclave will be held in view of the rapid digitization of the country's economy. This is going to be held on Friday, June 3, 2022 (20th Jestha 2079) organized by Brandworth Pvt. The conclave was organized keeping in mind that the economy is taking a leap towards digitization as Nepalis have become accustomed to many dimensions of digital technology after COVID 19.
The Conclave will have extensive discussions with all stakeholders on the latest possibilities, opportunities, and challenges of digitization.
The Covid 19 epidemic plunged the world into its worst recession since World War II. In 2021, the global economy contracted more than twice as much as in the 2008-2009 economic crisis. But the world's digital economy is booming in the midst of the crisis.
Billions of dollars worth of transactions represent the digital economy in the midst of the Covid crisis. The digital economy refers to producers and consumers doing their business through the Internet, fixed and mobile broadband infrastructure, cloud computing, digital platforms and many more.
This industry of any nation includes technology, telecom, media sector as well as new services and activities like e-commerce and digital banking.
With the integration of these digital platforms and business models in many traditional businesses such as agriculture, transportation, health, tourism, and education, industries have seen an increase in the digitization of everything in recent years.
After Covid 19, Nepalis are also becoming accustomed to many dimensions of digital technology such as e-commerce, digital payment, online education, etc. Digitization is becoming established as an integral part of the Nepali economy. Many are now turning to online businesses.
Many who do traditional business or offline business are transforming their business online.
Due to the Corona epidemic, Nepalis have been given information about the electronic payment system as well as experience of its use. Banks and financial institutions in Nepal have been forced to prioritize electronic payments.
Nepalis have become accustomed to new services including opening bank accounts and trading shares at home, transferring money from mobile, and paying through mobile wallets. Due to this, the Nepalese economy is being transformed into digitization. This change in the current business model of goods and services through new technology and the Internet is causing digital disruption.
The main objective of this year's Conclave is to highlight the economic activities that are being normalized by the Covid 19 effect and how digitization in public life can be used for economic growth and social justice.
The second edition of the Conclave has extensive interactions in four different sessions on 'Changing Times, Changing Economy', 'Creating Impact That Lasts',' Nepal: Small Market or Unlimited Possibilities? 'And' When Will We Have Nepali Unicorn Identity? There will be a debate.
These sessions will be attended by a wide range of stakeholders, regulatory bodies, and representatives of the private sector in the Nepali digital economy.
The conclave will feature keynote speeches by Sandeep Ghosh, Visa's Group Country Manager for South Asia and India, and Maha Prasad Adhikari, Governor of Nepal Rastra Bank.
There will also be separate sessions with Finance Minister Janardan Sharma and Communications and Information Technology Minister Gyanendra Bahadur Karki on digital development in Nepal.
The conclave will be broadcast live on major television channels as well as online media and other digital platforms.
PhonePay is the main sponsor of this conclave and Visa is the corporate sponsor. The second edition of the Conclave on Digital Economy is believed to be of special significance to ordinary Nepalis.
