By: Sophia Bennett

The digital economy often arrives wrapped in optimism. New technologies promise efficiency, opportunity, and global connection. But according to Mayada El-Zoghbi, the story is far more complicated.

In her book Power, Platforms & Participation, Mayada explores how digital platforms are reshaping economies around the world. The central question running through the book is simple but urgent. Who actually benefits from the digital economy, and who gets pushed aside?

Drawing on more than two decades of work in inclusive finance and global development, Mayada offers a grounded look at how digital systems create opportunity while also concentrating power in ways that many people barely notice.

Her message is not anti-technology. Instead, it is a call for broader participation in decisions that will shape the future of economic life.

Why This Moment Matters

Mayada did not set out to write a theoretical book about technology. The idea grew out of years spent traveling and working in developing economies.

In many of these places she saw governments and businesses eager to accelerate growth. Digital infrastructure and platform technologies often appeared to offer a shortcut. If wealthier economies had achieved prosperity through technological innovation, why not replicate the same path?

But the closer Mayada looked, the more she noticed something troubling.

The digital model emerging in developed economies was not distributing benefits evenly. Instead, it often produced widening income gaps, the decline of smaller firms, and growing tension within democratic institutions.

For countries still shaping their digital economies, this raises an important question. Should they simply replicate the current system, or should they design something more balanced from the start?

Mayada wrote Power, Platforms & Participation to help a wider audience understand what is at stake. She believes these conversations cannot remain limited to technologists and industry insiders.

The direction of the digital economy affects everyone. That means citizens, policymakers, companies, and community groups all deserve a voice in how it evolves.

Who Holds the Power in the Digital Economy

One of the most striking ideas in the book revolves around power.

Today, Mayada argues, power in the digital economy sits largely with major technology companies. Platforms shape how businesses operate, how consumers shop, and even how information flows through society.

This concentration of influence carries consequences.

Algorithms decide what products appear in search results. Platform policies determine which businesses gain visibility and which disappear from view. Entire markets can rise or fall depending on how these systems are designed.

Certain groups are especially vulnerable to being excluded from these systems.

Women often face structural barriers in access to financial tools and digital infrastructure. Rural populations encounter connectivity gaps and fewer opportunities to participate in online marketplaces. Other groups, including people with disabilities, may also struggle to navigate systems that were never built with them in mind.

Mayada does not suggest that exclusion is always intentional. But she warns that without thoughtful design and oversight, these outcomes can become embedded in the architecture of digital platforms.

Following the Money

One of the key lenses Mayada brings to the discussion comes from her background in inclusive finance.

She often uses a simple phrase to explain how the digital economy works. Follow the money.

Digital payments sit at the center of modern digital ecosystems. Every online purchase, government transfer, or peer-to-peer payment generates a trail of financial data.

That data becomes extremely valuable.

When platforms observe how people send, receive, or store money, they can build financial profiles. These profiles help determine whether someone qualifies for credit or other services. For merchants, digital payments open the door to selling on online marketplaces that dramatically expand their reach.

A small shop that once served a single neighborhood can suddenly sell products across a country or even internationally.

Digital payments, in this sense, act as fuel for the entire digital economy.

They power transactions, generate data, and unlock new services that extend far beyond the initial exchange of money.

Opportunity and Risk for Small Businesses

Digital platforms can create remarkable opportunities for entrepreneurs.

Imagine a small retailer in a rural town. Traditionally, the customer base might consist of a few thousand local residents. With access to online marketplaces and shipping networks, that same business could theoretically reach millions of buyers.

Platforms can help manage logistics, payments, inventory systems, and distribution channels that would be impossible for a small company to build alone.

Yet the same platforms that enable growth can also create new pressures.

Competition becomes global overnight. Instead of being the only shop on a local street, a merchant might find themselves competing with thousands of sellers offering nearly identical products.

Visibility becomes a new challenge. Businesses must figure out how to stand out in crowded digital marketplaces where algorithms often determine who gets noticed.

There is also the issue of platform fees. While companies often support small businesses during the early stages of onboarding, the cost of participating in these ecosystems can grow over time.

Large platforms have access to massive amounts of data about what sells and why. In some cases they can introduce competing products of their own, using insights gathered from the very businesses that rely on the platform.

This dynamic can make life increasingly difficult for smaller firms trying to remain competitive.

The Policy Gap

Another theme running through Mayada’s work involves the relationship between innovation and regulation.

Historically, innovation tends to move faster than policy. New technologies appear, companies experiment, and governments step in later once the impact becomes clear.

For decades, many countries saw this sequence as healthy. Innovation flourished because companies had room to build new tools and markets before regulatory frameworks took shape.

But the pace of digital innovation has accelerated dramatically.

Today, technologies can scale globally in just a few years. By the time policymakers recognize unintended consequences, those systems may already be deeply embedded in economic life.

Examples are easy to find. Digital lending platforms expanded rapidly in some regions before regulators addressed the risks of overindebtedness. Social media companies built massive global networks long before societies fully understood the implications for privacy, harassment, and misinformation.

The same pattern is unfolding now with artificial intelligence.

Mayada argues that waiting for problems to surface after technologies scale can leave policymakers struggling to catch up.

Instead, she believes countries should aim for a more balanced approach. Governments, companies, and civil society must work together early in the development process, weighing both benefits and risks before systems expand beyond control.

A Shared Responsibility

At its core, Power, Platforms & Participation invites readers to think differently about the digital future.

Technology alone will not determine whether digital economies become engines of opportunity or mechanisms that deepen inequality.

The outcome depends on choices.

Those choices involve how platforms are designed, how data is governed, how regulations evolve, and how inclusive digital infrastructure benefits everyone.

Mayada’s central point is clear. The future of the digital economy should not be decided solely by a small circle of technology insiders.

It belongs to everyone who will live and work inside it. And the conversation about how it should function is only just beginning.

Take a moment to explore Power, Platforms & Participation by Mayada El-Zoghbi, a thoughtful look at how innovation and finance can create real impact. It’s a great read if you’re curious about how systems are evolving to better serve people.