For years, researchers have warned of a system in which the government controls every aspect of its citizens’ lives. Every citizen would have to rely entirely on the government to survive in this system. This system has been openly discussed for many years by the “ruling class.” Aka: those who have been allotted social credit (or not) and power based upon their views and opinions. The system has already begun in China and is now spreading globally. In a recent post, “What is Really New In Fintech,” on the IMF blog (International Monetary Fund), authors Arnoud Boot, Peter Hoffmann, Luc Laeven, and Lev Ratnovski suggest “rapid technological change” in the financial industry. Many social media and other online platforms are now creating and accepting payments. This revolutionary change in the banking world could change the face of finance forever. Read more…
IMF Wants to Use “Digital Footprint of Customers’… Online Activities” to Assess Creditworthiness
