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https://decrypt.co/39905/blockchain-now-powers-parts-of-chinas-social-credit-systemPublished by: DECRYPTO on 27 Sep 2020
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$65,006.00 $1,919.53 $604.04 $0.999605 $1.042 $76.07 $0.328586 $1.038 $54.78 $0.070938 $0.999878 $0.01265403 $9.71 $504.19 $0.199931 $384.17 $56.25 $8.32 $0.165255 $217.09 $0.999456 $0.999518 $1.36 $0.094223 $45.88 $1.00 $0.069347 $1.13 $0.694048 $6.53 $0.999811 $0.00000464
$1.00
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What is Social Credit?
The Social Credit System is a national reputation system being developed by the Chinese government. By 2020, it is intended to standardise 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 as a form of mass surveillance which uses big data analysis technology. Critics will point to similar 'surveillance' systems already in operation in western countries. |
What is Surveillance?
Surveillance is the monitoring of behavior, activities, or information for the purpose of influencing, managing or directing. This can include observation from a distance by means of electronic equipment, such as closed-circuit television (CCTV), or interception of electronically transmitted
information, such as Internet traffic. Surveillance is used by governments for intelligence gathering, prevention of crime, the protection of a process, person, group or object, or the investigation of crime. Surveillance can be viewed as a violation of privacy, and as such is often opposed by civil liberties activists. |
What is China?
China, officially the People's Republic of China (PRC) is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019. Covering approximately 9.6 million square kilometres, it is the world's third or fourth-largest country by area. Governed solely
by the Chinese Communist Party (CCP), the state exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing), and the special administrative regions of Hong Kong and Macau. China is a unitary one-party socialist republic, and is one of the few existing nominally socialist states. Political dissidents and human rights groups have denounced and criticized the Chinese government for human rights abuses, including suppression of religious and ethnic minorities, censorship, mass surveillance, and their response to protests, notably in 1989. |
What is Blockchain?
A blockchain is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). By design, a blockchain is resistant to modification of its data
This is because once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. The blockchain has been described as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". |
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