Post: #26

(12-20-2015 10:09 AM)ball dont lie Wrote:  This appears to be more or less a credit score, much like every in the USA has. It is not the "real" credit score used by banks, but appears to be something where you buy more stuff, the score goes up.

Non story.

Obviously this program a bit alerting, especially at first glance, to somebody brought up in the West. However, you're basically correct. Hundreds of millions of Chinese don't have any kind of credit score to speak of, so this is being implemented as a way of fixing that. For example, if you have a high enough sesame credit you will be instantly approved for a small loan at a number of financial institutions. Most of this concept revolves around similar ideas.