China has developed a big
data Social Credit System that leverages networked databases, mass surveillance, and every meaningful economic and social interaction of its citizens into a utility of dragnet surveillance and unprecedented control.
Not exact matches
The various «core» components are captured by Total
Social Financing (TSF)
data, an official gauge that provides a measure of
credit and liquidity supplied by the entire financial
system in China.
After that comment raised eyebrows, FICO — creator of the most widely used
credit - scoring
system — clarified that «at this point,
social media
data is not part of any FICO score.»
Still, their
systems and
data would be key, analysts say, for China's ambitions to build a broader «
social credit»
system that would track people's financial activities, police records and other public behavior.
His answer sounds like an early road map for the
social credit system: to use then - embryonic tools such as artificial intelligence to collect and synthesize reams of
data.
The Equifax breach has driven Congress and others to rethink two major parts of the current
credit system: having
credit bureaus store most Americans» identity
data and using
Social Security numbers as a primary identifier.
System alerts you if it detects that your personal information —
credit or debit card,
Social Security Number, driver's license number or other sensitive
data — is being bought or sold online.
It has outgoing
data filtration
system which protects personal information from leaving your network; information such as bank account,
credit card and
social security numbers.
China may have already obtained information from «The
Social Network» and applied the
data directly or harnessed the algorithmically derived insights for its «
Social Credit System.»
Life in Rongcheng offers inside preview of China's
social credit system, which mixes
credit scores with monitoring
data of citizens, launches nationally in 2020
Ant Financial said in the terms of service that it reserved the right to share the
data it collected with third parties — including government agencies assembling a state - sanctioned
social credit system — and could not be held responsible for what happened after it shared the information.