China is planning to introduce a huge social credit app that will apply to 460 million people between 18-45…
Named “unictown”, the app gives each user a credit score between 350 to 800 after its self-developed algorithm parses six different dimensions of data, including: personal information, volunteer work, social connections, credit history, consumption history and track record of honouring contracts.
In the case of college students, “positive information” such as publishing a research paper, obtaining an intellectual property right or working as a volunteer in nursing homes can all potentially lift an individual’s credit score. Conversely, cheating at exams and plagiarism can lead to negative results in a credit score.
Those with low credit scores will not be punished as such, they will just not receive the same benefits that those with scores above 640 – considered as “excellent credit” – will be entitled to, such as discounts when buying online courses within the app or even being parachuted into the second-round of interviews when applying for jobs.