📈 Digital Trust: The Foundation of Sri Lanka’s $15 Bn Digital Economy

Supreme Court Judge Arjuna Obeyesekere and the Data Protection Authority (DPA) emphasized that Sri Lanka’s digital growth must be anchored by a robust trust architecture to ensure long-term economic value. • Core Economic Vision: The government aims to unlock US$ 15 Bn in value through the digital economy over the next decade. Success depends on shifting from technological adoption to "digital trust." • Regulatory Status: The Personal Data Protection Act (PDPA) No. 9 of 2022 is moving from a "future-oriented framework" to an urgent economic necessity. The DPA is currently being operationalized, with a phased implementation planned to allow the private and public sectors to adapt. • Sector Shifts: • Financial Services: Rapid transition from cash to a "cash-light" economy via QR codes, mobile wallets, and digital KYC (Know Your Customer) processes. • ICT/BPM & AI: Concerns raised over AI-driven decision-making. Future trust depends on transparency in how algorithms "infer, predict, and decide" rather than just how data is stored. • E-commerce: Platform-based commerce is now a routine layer of everyday life, requiring "privacy by design" to sustain consumer confidence. • Critical Warning: Connectivity alone does not drive progress; "trust moves people." Without accountability in automated systems, digital platforms risk scaling harm as efficiently as they scale revenue. • Next Steps: The DPA will focus on capacity building, awareness programs, and establishing complaint-handling mechanisms before announcing the Act's effective enforcement date.