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Many countries around the world have committed to developing national frameworks in order to regulate digital economy. The latter is often regarded as an impetus for the recovery of the world economies. Having undergone some changes and finally managed to use the full potential of the knowledge-based economy such countries as Belarus and Russian Federation are now striving to derive benefits from digital economy by adapting strategy and various guidelines for better use of information and communication technologies (ICT). However, governmental acts, decrees or whatsoever cannot guarantee hundred percent success. The transition to a new model will be much dependent on people’ mindsets and attitudes to innovations. Though the changeover to digitalized ecosystem is an obvious and indisputable reality, the paths that each country choses may be quite long and winding. This paper focuses on the grasping of the concept of digital economy and its constituent components which are, in fact, crucial elements leading to either success or failure in implementing legal regulations. We also describe the current state and possible development trends of digitalized ecosystems in both Belarus and Russian Federation.

Digital economy in Belarus and Russia: leading underpins of a new reality