I think we should calm the **** down before we know what this really is.
The context behind this is that apparently China has a poorly developed credit score system and legal system. This means that Chinese lenders don't have a good picture to decide whether or not they should lend somebody money.
And um.. well that's all we can possibly know about it at the moment. Ant Financial, one of companies piloting these social credit systems (SCS) has come out in refutation of some of the claims that Western media is making:
Also, I don't know exactly how such a system could be "mandatory". I mean, even here in the West, there are "mandatory" information collection systems. You can't do business with any company without them tracking information from you, so yes we've got "mandatory" surveillance as well. I'm not sure what the utility of forcing everybody to "use the system" would be when 1) how would you even do that and 2) it's already kind of happening?
Of course, there is no democracy nor a free press in China, so I'm very afraid for the possibility that this might get implemented very poorly. At the same time, Western media and the West in general go apeshit whenever China does anything, so my opinion on all this is that everybody should proceed with caution.
The context behind this is that apparently China has a poorly developed credit score system and legal system. This means that Chinese lenders don't have a good picture to decide whether or not they should lend somebody money.
And um.. well that's all we can possibly know about it at the moment. Ant Financial, one of companies piloting these social credit systems (SCS) has come out in refutation of some of the claims that Western media is making:
Unsurprisingly, Sesame Credit has received some negative press in the Western media. Articles repeatedly claim that Sesame Credit would take the behaviour of people's friends into account when determining their score, and that it would monitor social media activity.
In a statement sent to New Scientist, Ant Financial refutes some of these claims. "Materials published on social media platforms do not affect our users' personal Sesame Credit score," the company said. Chen says he is not aware of any part of the system that judges individuals based on the behaviour of their friends.
Also, I don't know exactly how such a system could be "mandatory". I mean, even here in the West, there are "mandatory" information collection systems. You can't do business with any company without them tracking information from you, so yes we've got "mandatory" surveillance as well. I'm not sure what the utility of forcing everybody to "use the system" would be when 1) how would you even do that and 2) it's already kind of happening?
Of course, there is no democracy nor a free press in China, so I'm very afraid for the possibility that this might get implemented very poorly. At the same time, Western media and the West in general go apeshit whenever China does anything, so my opinion on all this is that everybody should proceed with caution.