Posted on 08/19/2021 5:12:57 PM PDT by algore
With more services than ever collecting your data, it’s easy to start asking why anyone should care about most of it.
This is why. Because people start having ideas like this.
In a new blog post for the International Monetary Fund, four researchers presented their findings from a working paper that examines the current relationship between finance and tech as well as its potential future.
Gazing into their crystal ball, the researchers see the possibility of using the data from your browsing, search, and purchase history to create a more accurate mechanism for determining the credit rating of an individual or business.
They believe that this approach could result in greater lending to borrowers who would potentially be denied by traditional financial institutions.
The concept of using your web history to inform credit ratings is framed around the notion that lenders rely on hard-data that might obscure the worthiness of a borrower or paint an unnecessarily dire picture during hard times.
Citing soft-data points like “the type of browser and hardware used to access the internet, the history of online searches and purchases” that could be incorporated into evaluating a borrower, the researchers believe that when a lender has a more intimate relationship with the potential client’s history, they might be more willing to cut them some slack.
(Excerpt) Read more at gizmodo.com ...
You are a HUGE CREDIT RISK.
My Socialist Credit Score is in the negatives.
Bull crap. This is just another variation of a social credit score like they use in China.
The Great Reset
Yeah, because basing your credit score on turn payment history is so yesterday.
Add the internet to the things the left has destroyed.
Go ahead grasshopper, put your money where your mouth is
Yeah
No
In the long term, credit is for suckers. Therefor all credit is for suckers.
The IMF only exists because of loans from the US taxpayers. Are they ever going to repay those loans? Get lost clowns, you have no such authority to dictate anything.
I used to play rugby with a couple of economists that worked there.
The commies love this stuff.
Time to start our own markets and banks.
Easily combined with your digital health passport, links to your bank accounts, regular passport, etc.
This is where they want to go.
Fascism.
No.
the bank of cableguymn sees those as an indication of a safe credit risk. your loan is approved unfortunately we have no funding at this time. Please apply again in 30 days.
Do they handle credit responsibly? Do they pay back what they owe on time and as agreed?
Are they gainfully employed by the same employer over a long period of time?
Have they been at the same address for a long period of time?
Are they personally stable, able to repay, and willing to repay?
Then they deserve credit.
What does moving or changing jobs have to do with it?
Stability.
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