Our world today is witnessing major transformations affecting both society and the economy. This is due to the qualitative leap in information and communication technology. Computers and electronic tools have made the world a small village despite geographical distance. This technological development has produced a digital revolution. It has brought radical changes to economic structures, displaced traditional systems, and established new foundations for the digital economy. Our world today is undergoing major transformations in both society and the economy, all of which can be attributed to the qualitative leap brought about by the information and communications sector. Computers and electronic devices have made the world a small village despite the vast distances between us. This technological development has sparked a digital revolution that has brought about the current changes in economic structures, done away with traditional systems, and established new benchmarks in the digital economy.