Dr Paul Twomey, president of the internet admin body Icann, talks about the net's potential for change.

In a time of gloom I am an optimist. There is a tide of innovation sweeping the world. Those concerned about how to counter recession and poor financial system transparency should look at how the rapidly globalising internet is changing how our world works.

While the web has changed our lives, we are but on the edge of a transformative revolution which will change both developed and developing countries. The mobile global internet is growing quickly to connect billions of people, devices and things. It offers much greater productivity and lower barriers to entry for users and businesses.

In my travels I see "suits" in Manhattan, shop owners in Hyderabad, tour guides in Luxor, students in Santiago del Chile, Aboriginal artists in Alice Springs, fisherman in Hoi An; all glued to their handsets and the net. This empowerment of individuals, especially in the developing world, is transforming social, economic, and political relationships.

The implications of the rapid penetration of the internet are staggering

At a time of financial crisis, when all are calling for transparency and good governance, the internet economy's feedback loops should be grasped, transforming the way we think of currency and accuracy of information and to change how we develop policy and make decisions.

But we also need to stay alert to the forces that may contribute to the fragmentation of the global web.

Most internet users today will have had their first interaction with this phenomenal communications platform in the mid 90's, following the advent of the HTML and the World Wide Web.

My first encounter with the internet was in a crowded network operations centre, at the Australian National University, in 1991. I remember thinking, someone is going to turn this into a tool for average people and unleash all sorts of economic opportunities.

The next year Tim Berners-Lee and Robert Cailliau developed the Web and did just that.

Despite the obvious promise then, few would have envisaged that in such a short time, the internet would come to play a crucial role in international commerce, communications, government, education entertainment, and delivery of services.

And this is only the beginning.

While we are offered glimpses of how the internet might evolve in the coming years, the last 30 years has taught us that we probably haven't yet imagined the long-term impact of the global internet on society.

Source: Dr Paul Twomey The Tech Lab news.bbc.co.uk