Archive: Glossary Entries

Digitalization in the financial sector fundamentally affects all financial services, i.e. all contracts and transactions in B2B, B2C and C2C relationships.

Digital participation refers to the social involvement of stakeholders in political and social decision-making and opinion-forming processes with the help of digital information and communication technologies.

In the metaverse, users are fully immersed in the virtual world with the help of technologies such as AR or VR.

The term software describes programmes that run on hardware devices. Software combines three essential concepts that are all data-based: calculation, communication, and storage.

In a distinction from classical mass media, social media dissolves the sender-receiver principle, enabling non-linear communication as well as networking.

Virtual Reality is the computer-generated simulation of a three-dimensional image or environment users can interact with in real-time.

Sharing economy is an umbrella term for an emerging form of economy in which tangible and intangible resources are shared using digital platforms.

The definition of the term robot goes beyond a strictly technical understanding. Instead, robots are rather perceived as autonomous, socio-technical machines.

The theory of quantum computing states that the use of quantum mechanical computation leads to a lower runtime complexity for some problems that would not be possible using a conventional computer.

Internet search engines such as Google Search are well-known examples of digital platforms. These platforms act as matchmakers between different market actors, e. g. connecting internet users with website operators and advertisers.