The term 'Digital Economy' was coined for the first time by Don Tapscott in 1995 in his best-seller The Digital Economy: Promise and Peril in the Age of Networked Intelligence. When he wrote the book 20 years ago, he announced how he thought the Internet would fully transform the nature of business and government. We have now extended the concept, illustrating how digital technologies are rapidly transforming business practices, the economy and societies.