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Innovative development in the global science 2023 Boston, usaINNOVATIVE DEVELOPMENT IN THE GLOBAL SCIENCE5-11INNOVATIVE DEVELOPMENT IN THE GLOBAL SCIENCE
2023 Boston, USA
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crucial to regulate digital platforms through the implementation of the Digital
Market Act (DMA) to address potential issues of unfair competition. The rapid
growth of digital platforms has undoubtedly brought numerous benefits,
empowering individuals, businesses, and the economy as a whole. These platforms
have revolutionized the way people communicate, transact, and access
information. They have facilitated e-commerce, enabled convenient on-demand
services, and fostered new job opportunities through freelance platforms.
Moreover, the availability of digital financial services has enhanced financial
inclusion and accessibility for a broader segment of the population.
However, along with these advantages, challenges have emerged. Some
digital platforms have garnered significant market power, potentially leading to
monopolistic behavior and hindering fair competition. The winner-takes-all
phenomenon has resulted in dominant players gaining substantial control over their
respective markets, potentially stifling innovation and limiting choices for
consumers and businesses. Additionally, concerns surrounding data privacy and
misinformation on digital platforms need to be addressed. The vast amount of
personal data has raised data protection and user privacy questions. Misinformation
and the spread of fake news on social media platforms can also have adverse
effects on public discourse and social well-being.
It is essential to balance promoting healthy competition and safeguarding
consumer rights and interests to ensure a fair and prosperous digital market in
Uzbekistan. The DMA delivers a prospect to establish a regulatory framework that
encourages innovation, competition, and consumer protection. By imposing clear
guidelines and restrictions on the behavior of digital platforms, the DMA can
mitigate the negative impacts of market dominance and foster an environment
where multiple players can thrive.
Among the key provisions that the DMA could include are:
1. Prohibition of Unfair Business Practices: At the core of the DMA lies a
commitment to address anti-competitive behaviors that may arise from the
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