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How is this, in principle, different from the credit scoring system in western states? Lenders, banks, landlords, employers, insurance companies, utilities and
by digdigdag 6y ago
How is this, in principle, different from the credit scoring system in western states?
Lenders, banks, landlords, employers, insurance companies, utilities and hell even your cable company can assess the level of service rendered to you based on your score.
I'm not saying China's system is identical to a FICO score -- but one would be remiss to not see the parallels in the intention of both systems.
- free_rms 6y agoA few years back, I remember a bunch of SV startups trying to invent... a social credit system... for underbanked countries without credit systems. We'll just hook up to the facebook API to find who's creditworthy. Everyone clapped them on the back for it, maybe YC funded one or two.
- x3n0ph3n3 6y agoFICO is not currently weaponized against political opponents and there's some level of recourse against inaccurate information in your credit report.
- s3r3nity 6y agoYou can't lose FICO score points simply because you missed a dinner reservation, or gave a negative political opinion against the political party in power. This is a weak equivalency, akin to saying they're equivalent to school grading systems, simply because they assess a level of service in regards to studying. FICO is a financial measure meant to assess risk for certain financial transactions - the domain is pretty limited.