As bad as it turns out when pushed by a monopoly such as the Chinese state, this could be a wonderful tool when provided as a voluntary form of self-government. Cooperatives can use it to communicate trustworthiness and many other parameters in order to offer their members/customers syndication between different services.
There is also the rise of psychometric testing for eligibility to microfinance. People who have no credit score are judge as being trustworthy of paying back their loans based on their personality traits.
As bad as it turns out when pushed by a monopoly such as the Chinese state, this could be a wonderful tool when provided as a voluntary form of self-government. Cooperatives can use it to communicate trustworthiness and many other parameters in order to offer their members/customers syndication between different services.
https://steemit.com/steemit/@kurtbeil/china-s-sesame-credit-a-very-scary-reputation-system
Nice post!
There is also the rise of psychometric testing for eligibility to microfinance. People who have no credit score are judge as being trustworthy of paying back their loans based on their personality traits.
https://www.ft.com/content/bf27f8c2-a586-11e4-8636-00144feab7de