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The impact of digital technology on quality of life is not unambiguous. By opening up new opportunities for humanity to achieve economic growth, prosperity and quality of life, new technologies pose a significant number of threats due to the high speed of change and the uncontrolled spontaneous development of the information and communication industry. This study examines the key challenges of digitalization, examines the main opportunities, and proposes principles and key areas of digital technology development that contribute to achieving sustainable development and improving the quality of life. Digital technologies, which allow receiving information from multiple sources, storing and processing, can stimulate economic growth and integration, empower individuals, stimulate innovation and entrepreneurship, contribute to solving social problems, ultimately having a positive impact on people's quality of life. There are also negative trends from their use that reduce the quality of life. For example, according to experts interviewed for the World Economic Forum reports, 2019 has seen an increase in fears about the rise of cybercrime, privacy violations, misuse of personal information, fake news, and the manipulation of business and democratic processes. But that was the case before the pandemic, then things changed. The global nature of the digital environment brings with it a rich cultural and normative diversity, with different types of stakeholders having different, often competing interests. Building an Inclusive, Trustworthy and Sustainable Digital Society," experts offer key principles and methods for optimal digitalization. First, the digital future must be inclusive. Inclusion refers not only to Internet access and accessibility, but also includes participation in social and economic benefits (outputs) and opportunities. Secondly, the foundation of any interaction is trust. In the digital context, trust is built through effective and enforceable policies of privacy, security, accountability, transparency and participation. Finally, the digital world must be sustainable - socially, economically and environmentally - i.e. sustainable business models and practices must be developed. Proving one's identity is a prerequisite for voting, banking, shopping, renting, traveling and accessing health and other social services. Digital identity is a network of personal information shared, collected, and disseminated among a multitude of people, devices, and organizations. Defining digital identity is a widely debated issue around the world. Developing a system of digital identities requires defining the functions that a "good" digital identity should have. There are a number of controversial issues, trade-offs between convenience, security and privacy of users and the need of the state to ensure the safety of citizens and respect their privacy. Currently, the system for defining digital identity is extremely defragmented, there is no standardization, and technology choices and governance structures are determined by industry after industry, country after country. Collaborative platforms and networks are at the center of the new digital economy, and 60-70% of the new value created over the next ten years is expected to be based on data-driven networks and digitally processed platforms. The rise of platforms raises a new set of tradeoffs that challenge our traditional understanding of business and policy. Priorities for collaboration include: encouraging a network of responsible business leadership; developing tools and guides for transformation; empowering teams and company teams; public-private collaboration to develop common industry transformation strategies; and public-private collaboration on important digital topics. Technology can also transform consumption patterns. Ride-sharing and other platforms can reduce the number of cars on the road or the consumption of other goods. Advances in blockchain technology can help consumers track the movement of goods throughout the supply chain, revolutionizing certification and tracking systems. The industrial Internet of Things (11oT), advanced computers and next-generation networks could transform our energy systems.