Facebook Asks for Users Bank Records Sparking Fears of Chinese-Style Social Credit System in US
If you are not familiar with communist China’s Orwellian social credit system for its subjects, check out this video:
The aforementioned social credit system that works via a credit score for Chinese citizens was made possible by the communist government working together with the country’s largest social networks. The end goal, the credit score system, measures how obedient the subjects are, and in the long run, is aimed at creating a compliant and docile population that polices itself basically.
A citizen’s score will be hurt if he posts political opinions on the internet via social media, opinions/ideas the regime doesn’t approve of. Also, if any of one’s social-media friends engage in wrong-think, this would also hurt one’s credit score, i.e. under this insidious system, people face the threat of both losing friends for their political views and also becoming a target of Big Brother surveillance. China’s Sesame Credit is currently opt-in only, but is set to become mandatory by 2020.
Enter Facebook, who recently asked United States banks to share transactions/account balances with the social media behemoth, in an effort to, let me quote, boost user engagement with the app. According to Open Markets Institute Matt Stoller, Facebook’s move makes for a sign that big-tech companies in the US are moving toward a system similar to China’s Sesame Credit:
As I've been pointing out, concentrated tech power is moving us towards a dystopian social credit scoring system. https://t.co/r9vanI4RoH
— Matt Stoller (@matthewstoller) August 6, 2018
Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. The company over the past year asked JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and U.S. Bancorp to discuss potential offerings it could host for bank customers on Facebook Messenger, said people familiar with the matter. –WSJ
Several large banks in the US were asked by Facebook to share detailed information about their customers, including credit card transactions and checking account balances, as the social media giant is fighting to stay relevant by offering new services to its shrinking fan-base.
Facebook has told banks that the additional customer information could be used to offer services that might entice users to spend more time on Messenger, a person familiar with the discussions said. The company is trying to deepen user engagement: Investors shaved more than $120 billion from its market value in one day last month after it said its growth is starting to slow.
Facebook said it wouldn’t use the bank data for ad-targeting purposes or share it with third parties. –WSJ
Clearly we’re being trolled at this point. The idea that the Zucc wants your financial data and would not use it to target you financially is the funniest thing I have heard in a while. I mean, if you can’t trust Facebook and the banks ….. whom can you trust? Always remember that private corporations are not subject to laws or accountability. This is necessary for “muh freedoms”. We wouldn’t want to involve the government in preventing crimes against citizens. What are you, a fascist or a communist?