What is Digital Trust, and why does it matter for business? Digital transformation continues to drive new opportunities for businesses worldwide and accelerate the pace of innovation across a multitude of industries. Yet, organisations now fight a constant battle against novel challenges arising out of misinformation, cybercrimes, fraud and more.
In a white paper titled Digital Trust – Unlocking the Next Wave of Growth for the Digital Economy issued in October 2022, SGTech highlighted the importance of digital trust, broadly defined as “the confidence participants have in the digital ecosystem to interact securely, in a transparent, accountable, and frictionless manner”, in surmounting these obstacles.
On 24 February 2023, The Digital Trust Movement webinar was co-organised by Rajah & Tann Technologies, JonDavidson Consulting, Credence Lab and Singapore University of Social Sciences (SUSS) where participants learnt what is Digital Trust and why does it matter for businesses.
Mr Phillip Heah, CEO of Credence Lab and current Chairman of Digital Trust Committee in SGTech, talked about the importance of Digital Trust in the current global economy and building strong collaborative relationships in the digital data ecosystem. Our Director Adj Prof Steve Tan, Deputy Head of the Technology, Media & Telecommunications practice group in Rajah & Tann Singapore, shared about data breaches in Singapore and around the world that were caused by cyber insecurity and lack of data privacy protection. Dr Kelvyn Zhuang then explained about maintaining a balance in data and cybersecurity control measures to forge digital trust in the digital economy, followed by Ms Jenny Lim from JonDavidson Consulting who showed how businesses can take part in the Digital Trust movement with a digital transformation map by highlighting different levels of engagement and enablement in an organisation.
Stay tuned for more updates on Digital Trust events, seminars masterclasses and training workshops on our LinkedIn page.