Most of you will be familiar with a financial credit score that rates your financial trustworthiness. It’s intended to give creditors an indication of risk and how likely you will repay your loan commitments.
With a massive helping hand from high-tech and big data, China is rolling out a social credit scoring system that rates your trustworthiness far beyond that of your financial credit score. Let’s take a look at the Chinese Social Credit score system. How Is The Social Credit Score Determined? In China, government agencies and private companies are collecting enormous amounts of data about e.g. an individual’s finances, social media activities, credit history, health records, online purchases, tax payments, legal matters, and people you associate with in, addition to images gathered from China’s 200 million surveillance cameras and facial recognition software.
Author: Bernard Marr