ECOSOC

United Nations Economic
and Social Council (ECOSOC)

Under the calls of the United Nations Charter in 1945, ECOSOC, the Economic and Social Council was established to discuss the worldwide issues related to the economy, society, and environment. ECOSOC is one of the six principal organs of the UN and its significance in international stage is keep growing as the term sustainability and interrelationships between economic, social, and environmental issues are gaining political and academic attention.
The Economic and Social Council plays the role of hub linking various clusters of subsidiary bodies and other UN entities. Especially, ECOSOC offers unique and differentiated global meetings including policymakers, parliamentarians, government authorities, academia, businesses, and more than 3,200 non-governmental organizations as participants. Appropriate usage of ECOSOC's varied types of segments, forums, and meetings may allow the committee to reach productive, effective, and fruitful negotiations. As global issues are now highly correlated and multi-dimensional, ECOSOC which examines and captures both economic and social influences will play a significant role in the construction of multilateral solutions.

Agenda

1. Establishing a global framework to protect vulnerable investors from
high-risk cryptocurrencies

2. Establishing a multicultural convention to prevent illegal exchange
of private data between enterprises

Agenda Introduction

[1]
Cryptocurrencies have risen as a secure alternative to traditional state-backed currencies and a lucrative channel of investment ever since their inception. However, the decentralized nature of these currencies has also led to their largest risk: their value propositions are largely based on nothing but trust from the public. This leaves a lot of room for unstable crypto crashes and scams, hurting vulnerable investors and their savings. There is little disagreement on how to approach, regulate, or even define cryptocurrencies among different countries. Domestic regulation is often still at an early stage of inception and not clear enough. This is a problem because the adverse effects of cryptocurrency scams and crashes tend to span across borders, and ECOSOC as a body focused on discourse can help solve that issue. ECOSOC can act as the center of discussion, agreement, and education about the risks and approaches to cryptocurrencies that can mitigate their risks.

[2]
As the world has entered the Information Age, the significance and merit of information is continuously rising. Especially, raw data produced by individuals around the globe, captured through various internet and communication technology (ICT) function as the foundation of the Big Data technology. Through Big Data technology, many multinational enterprises anticipate world trends, and develop more customized goods, services, and marketing strategies specialized for them. Meanwhile, the emergence of a private data exchange system, also known as the PDX system, enabled enterprises to create economic profit by utilizing individuals' private data accumulated in their platforms. Unfortunately, behind the PDX system lies the possibility of illegal exchange of private data by enterprises, which can lead to information leakage, privacy issues, and economic unfairness. Despite the severity of the problem, the United Nations and each state currently have a deficiency in the ability to sense illegal exchange and grant appropriate regulations to the violating enterprises. At this point, the world needs an agreed definition of what 'illegal private data exchange' is and effective methods to surveil and regulate big ICT or any other enterprises operating private data which will in many cases have the technological, political, and financial power to conceal or justify their illegal exchange.

Country List
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United Nations Economic ​and Social Council (ECOSOC)

United Nations Economic
and Social Council (ECOSOC)