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It has been five years since Uber was legalised in Australia, but already in that time the taxi industry has plummeted and the value of a cab’s licence plate has decreased drastically. That disruption was caused by the simplicity and convenience of an on-demand service becoming available via an app on a smartphone.
Thanks to digital disruption the world is getting smaller and global customers more accessible. Global e-commerce sales are growing at 20% per annum and are forecast to reach US$2 trillion in 2016. This will double to US$4 trillion by 2020.