Global trust in a digital world

We live in a connected world. Digital transactions travel the world and know no borders.

If we look exclusively at the acquisition of goods and services via the Internet, according to quarterly data published by the National Commission for Markets and Competition (CNMC), e-commerce in Spain exceeded 12,200 million euros in first quarter 2020, 11.6% more than the previous year, an upward trend consolidated year after year.

It is very significant to analyze the origin and destination of these transactions. 50.8% of Q1 2020 revenue corresponds to purchases from Spain made from e-commerce sites abroad. The bulk of transactions are carried out within the European Union, which accounts for 95.9% of Spain's transaction income abroad and 66.6% in the reverse direction. The volume of income from transactions made from abroad to Spain is € 2,255 million, of which € 753 million comes from outside the European Union.

According to data from the World Trade Organization (WTO), Spanish imports and exports saw their turnover decline in the first quarter of 2020 compared to the same quarter of 2019. It is a reality that we can see both if the figure is considered in the currency in which the WTO publishes the data (dollars) and if adjustments are made for changes in the exchange rate and it is expressed in euros. However, the e-commerce numbers have increased. Although the year-to-year variations since 2014 do not mark a stable trend, on average, e-commerce is growing, as a percentage, more than total commerce.

These data allow us to verify a fact that we experience daily: the world is increasingly digital, online transactions are gaining ground in physical interactions, and this is measurable in terms of volume of business.

Digitization facilitates exchanges and communications between geographically distant markets, generating new customers, suppliers and competitors. In this changing environment, it is important to identify the key value that serves to occupy and maintain a leadership position.

REGULATION (EU) N ° 910/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 23 July 2014, known as the eIDAS regulation, states in its first recital the following: “Creating a climate of trust in the online environment is essential for the economic and social development. Distrust, especially given the perceived legal uncertainty, makes consumers, businesses and governments hesitate when they transact electronically and adopt new services. "

This vision is shared in other parts of the world, such as, for example, Law No.126-02 on Electronic Commerce, Documents and Digital Signatures of the Dominican Republic, which includes the following CONSIDERING: “That the The authentication and security of digital documents and messages are fundamental to ensuring the parties involved that their e-commerce transactions are carried out in an environment free from attacks or illegal breaches, or that, if these occur by exception, the said transactions satisfy the conditions necessary to be able to settle disputes, assign responsibilities and repair damages as the case may be. "