The tech professionals in China has organized a session – dubbed “Blockchain technology helps China’s new social credit system” – with more than 20 experts from institutions, research departments and companies attended.
China’s social credit system is a citizen-focused reputation network, which the national authorities are investing resources in. The trials for social credit regional has been initiated in 2009, while a national-level pilot project was kickstarted 6 years ago, in 2014.
4 years following the official start of the pilot, the People’s Bank of China has tasked itself with placing the centralized efforts under its supervising scope.
Now, Chinese professionals aim to utilize the reliability and immutability features of blockchain, to ensure social credit data remains available for citizens, and unauthorized individuals cannot make changes to it.
The social credit system award a score to each citizen, to represent their trustworthy level. The score will be heavily affected by A.I, along with the data processing sequence, from millions of CCTV cameras, currently set up in China.
The actions which will have a negative impact on the score consist of, but not limited to, playing loud music or eating in public transit, violating traffic laws, ghost-booking at restaurants or hotels, and falsely categorize personal waste. The prohibition of using high-speed rail or air travel transportations are the punishments for violations.
The Chinese authorities have called for extra embrace of blockchain tech from companies in mainland China, with president Xi Jinping urged for accelerated adoption rate of the tech.