Ecommerce to overtake conventional trading, says PSINet chief

Within three to four years, most countries' GDP will be delivered by ecommerce, according to William Schrader, CEO and chairman of PSINet.

In an exclusive interview with Silicon.com, Schrader claimed it will not be long before commerce and ecommerce become indistinguishable.

"In three to four years you won't be able to distinguish between ecommerce and commerce, you'll just drop the "e" and 80 per cent of most countries' GDP will be delivered by ecommerce. It will just be commerce - it is where businesses do business today and will be considered the place where they do their normal transactions."

However, he did not think recent legal attempts to hold ISPs responsible for content posted by the sites they host will discourage the growth of the industry.

"There are a number of lawsuits, a number of legislative efforts, especially in pornography and gambling. All these things happen all over the world, we are keenly aware of them, but we can't watch everything and when people sue us, we watch a little more carefully. But I would say we're not worried as it will not slow down or stop the growth of this great enterprise," predicted Schrader.

The UK's support for Internet enterprises received praise from Schrader. He claims London is an obvious candidate to become the world's Internet hub.

According to Schrader: "In the UK, the framework is very solid for the growth and support of the entire industry. I'd say the UK is very well situated going forward, and we look forward to a great growth rate in the UK and across Europe.

"The only 100,000 square foot hosting service that PSINet has, is in London. London is the cultural and economic centre for all the world not just Europe," he added.