![]() ![]() “Your credit score can be augmented by simply looking at how positive your comments are, how often you ‘like’ posts from high- or low-risk accounts, how quickly you respond to DMs, and even how long you spend mindlessly scrolling” - Rose Eveleth, Slate “For millions of ‘credit invisibles’ who may not have access to mainstream credit options due to limited credit histories, alternative credit data may be primary data - especially, if it can help them qualify for their first line of credit or personal loan,” reads Experian’s “2020 State of Alternative Credit Data” white paper. Proponents of Alternative Credit Scoring say that it helps lenders mitigate risks, and that people without a financial credit history, such as the unbanked, can be identified as being eligible to borrow money thanks to their social history. ![]() ![]() Highlighting efforts in Indonesia to adopt Alternative Credit Scoring as a way “to accelerate financial inclusion,” the Davos globalists came up with a three-step plan that may “serve as a model for other emerging economies,” which you can check out in The Davos Agenda. The data compiled is then used to build a person’s digital profile, which includes their social media activities, online interactions, geolocation data from their mobile phones, browsing histories, and phone records.Īccording to PwC, “Data from online social networks, mobile phone records and psychometrics are parameters that are currently being used to evaluate the potential of borrowers.” “Data from online social networks, mobile phone records and psychometrics are parameters that are currently being used to evaluate the potential of borrowers” - PwC Whereas traditional credit scoring relies on limited sources for insights into an individual’s financial behavior, Alternative Credit Scoring adds an individual’s social behavior to the overall score. At first, we just worried about losing points, but now we got used to it.Alternative Credit Scoring is about leveraging big data to analyze not just financial histories, but social behaviors as well, which risks introducing a social credit system like that of the Chinese Communist Party (CCP).Īhead of the World Economic Forum’s (WEF) virtual meeting taking place January 25-29, the Davos globalists have added Alternative Credit Scoring to their agenda. If you don't stop, you will lose your points. For example, when we drive, now we always stop in front of crosswalks. The system has been likened to dystopian science fictionĬhina's social credit system incorporates a moral edge into the program, which is why many have compared it to some level of dystopian governance, such as in George Orwell's "1984" in which the state heavily controls every aspect of a citizen's life.īut despite that - Human Rights Watch called the system "chilling," while Botsman called it "a futuristic vision of Big Brother out of control" - some citizens say it's making them better people already.Ī 32-year-old entrepreneur, who only gave his name as Chen, told Foreign Policy in 2018 that "I feel like in the past six months, people's behavior has gotten better and better. It often indicates a user profile.Ĭompanies can also increase their credit rating if there's evidence that they support labor rights through social insurance benefits and affordable housing, and comply with environmental protections, per the draft law. Account icon An icon in the shape of a person's head and shoulders. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |