Page 270 - The Digital Financial Services (DFS) Ecosystem

ITU-T Focus Group Digital Financial Services
Ecosystem

5 Policy considerations

Policy makers face a tough balancing act. On one hand, social networks can bring significant value to the BoP
populations, and policy makers should therefore consider policies that encourage adoption. On the other hand,
social networks are tremendously powerful, and regulators should explore policies that protect consumers
from potentially harmful effects.

5.1 Encourage adoption

5.1.1 Path forward

There is significant potential for social networks to benefit the underserved, but we’ve just scratched the
surface. The BoP need a ‘killer app’ to jumpstart adoption. For example, a free and simple OTT communication
service may spur initial usage. OTT communication can be cheaper than SMS and a photo-directory interface
could be less intimidating. Once the initial usage starts, new use cases and solutions would drive further
engagement.

Figure 12 – Potential adoption path for BoP

5.1.2 Enabling layers

Achieving the potential of social networks requires progress within several enabling layers. Efforts could stall
at any one of these layers grinding the potential to a halt. Policy makers may need to take action to ensure
the potential is reached.

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