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Hey, they got that system in place already in China! https://en.wikipedia.org/wiki/Social_Credit_System Go to HackerNews, post a dissenting topic, enjoy no travel or credit! Work in a high compliance job where you have to submit financials yearly, no more!
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This is the standard misattribution that comes up all the time in bad faith, especially online. "[Organization] published X, therefore that's what they believe." No, the IMF/NYT/News channel (or whoever) publishes opinion pieces all the time without agreeing with them.
You are not incorrect. That said, to use your words, organization X does not publish Y without certain level of support for Y within X.
A better conversation is whether IMF/credit scores deserve to exist in the first place. Didn't these geniuses JUST add field-specific search to SWIFT, so orders for "cubanos" don't get held up because of Cuba sanctions? Maybe these clueless old men should stick to what they know - mountains of physical paperwork and pointless policies and procedures, and stay away from anything that uses electricity or internet. Bitc…
>Bitcon/DeFi will render them obsolete in a few years' time anyway.
Credit scores exist because banks want to know how likely they're going to get their money back. I'm not sure how that'd be replaced with "bitcoin/difi". Most of the "loans" I see are difi are either flash loans or overcolateralized loans, which have limited application to typical consumer loans (eg. car loan or mortgage).
Hey, they got that system in place already in China! https://en.wikipedia.org/wiki/Social_Credit_System Go to HackerNews, post a dissenting topic, enjoy no travel or credit! Work in a high compliance job where you have to submit financials yearly, no more!
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Hey, they got that system in place already in China! https://en.wikipedia.org/wiki/Social_Credit_System Go to HackerNews, post a dissenting topic, enjoy no travel or credit! Work in a high compliance job where you have to submit financials yearly, no more!
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In this sense digital finance will be created by decree rather than as the unavoidable culmimation of some particular "tech innovation".
Underneath the huge risks there is always the potential that easier collection and dissemination of information will support a "better" financial system, somehow combining the best rather than the worst of "fin" and "tech".
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Stop spreading disinformation and conspiracy theories here please.
Hey, they got that system in place already in China! https://en.wikipedia.org/wiki/Social_Credit_System Go to HackerNews, post a dissenting topic, enjoy no travel or credit! Work in a high compliance job where you have to submit financials yearly, no more!
It's a way more stable system. Allow a very narrow band of opinions in practice while claiming that everyone's free to think whatever they want in theory.
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Stop spreading disinformation and conspiracy theories here please.