Britain requires strict new regulations for aiding to counter the dominance of large tech giants like Google, Facebook, Amazon. A review competition in the digital market remarks this matter. 150 page-long report includes an argumentative debate across the world over the requirement for strict regulation of technology giants in Silicon Valley amid massive concern about their influence on the spreading economy and their control on data. US Democratic Presidential candidate Elizabeth Warren approached the breaking up the largest US tech companies in the last week, berating them for acquiring too much market and political power.
In the same day, the British report was released that Swedish music-streaming service Spotify told it suited a legislation complaint against Apple, charging it of choking the competition through its control over the operating system of Apple and app store.
The deal of Swedish audio streaming platform, Spotify with Apple centers on a 30 percent tax which will have to pay this and also the other digital services for using Apple’s “in-app” based potential payment system, and it will make the Spotify subscriptions more costly than Apple Music.
The review of the British government was controlled by Harvard University Professor Jason Furman, who was a Chief economic advisor to the former US President Barack Obama. The report discovered that global tech giants don’t confront enough competition and told that existing regulations are stereotyped and it requires modification.
Harvard University Professor Jason Furman told, “ The digital sector has created substantial benefits but these have come at the cost of the increasing dominance of a few companies, which is limiting competition and consumer choice and innovation”.
He also added, “Some say this is inevitable or even desirable. I think the U.K. can do better. ” House of Lords of Britain called for a new digital authority with potential regulations for providing the overall oversight.