The Economic, Informational and Security Role of Social Media During the COVID-19 Pandemic

Abstract

The article defines the main directions of influence of social media during the crisis, especially during the COVID-19 pandemic as one of the largest global crises, which affected almost all countries in the world. The study is based on a survey of social media users, as well as on statistical materials and a comparative analysis of the works of leading foreign scientists. The study indicates four main groups of factors of social media impact on society, such as economic and informational (lockdown factor due to the COVID-19 pandemic), security, perception of social networks in society and the formation of trust in social media. It was found that fake and mis- or disinformation leads to the deterioration of the economic, security and psycho-emotional life not only of individual consumers, but also of the whole country. It has been found that the provision of reliable information, elimination of fake news, concern for privacy and application of data security play the biggest role in the perception and trust of social media for both individuals and businesses.