COTD: Chart of the Day
The Social Credit System (Chinese: 社会信用体系; pinyin: shèhuì xìnyòng tǐxì) is a national reputation system being developed by the Chinese government. The program initiated regional trials in 2009, before launching a national pilot with eight credit scoring firms in 2014. In 2018, these efforts were centralized under the People’s Bank of China with participation from the eight firms. By 2020, it is intended to standardize the assessment of citizens’ and businesses’ economic and social reputation, or ‘Social Credit’.
The system will be one unified system and there will be a single system-wide social credit score for each citizen and business.The system is considered a form of mass surveillance which uses facial recognition system and big data analysistechnology. In 2019, it is estimated that 200 million monitoring CCTV cameras of the “Skynet” network have been put to use in mainland China, with eight Chinese cities ranked among the world’s top ten most monitored cities, while the number of surveillance cameras is expected to reach 626 million by 2020 when the Social Credit System becomes fully effective. – Wikipedia
Hat Tip: Patrick Chovanec @prchovanec
This is extremely interesting. Thanks guys! But unfortunately the chart is not clear.
Hisham Mannaa, CFA
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