The term “cyber economy” in the functional sense refers to all the actions and facilities of the systematic approach to satisfy human needs under the conditions of scarcity, which are based on the use of digital information and communication technologies.

The term ” cyber economy ” refers to those parts of the economy that are fundamentally based on the application of digital information and communication technologies in their value creation, transaction, allocation, distribution and benefit creation.

The emergence of a cyber economy is a consequence of digital change. Triggered by the spread of digital information and communication technologies in the course of digitalization, there is a change in the structure and functional logic of technical, economic, social and political systems and processes. A digital transformation is taking place. Parts of the essential economic processes shift to the digital infosphere in the course of this digital transformation.

The terms “digital economy” and “cyber economy” are widely used synonymously. Subordinate terms are internet economy, online economy and network economy.

How to Cite

The definition given above was proposed as part of the Digital Era Framework by Dr. Dr. Jörn Lengsfeld. The text was first published in: Jörn Lengsfeld: Digital Era Framework. Please refer to the original publication if you want to cite the text.