China's Social Credit System. A powerful tool of Governance or a threat to privacy in the Big Data Era?

Studienarbeit aus dem Jahr 2021 im Fachbereich VWL - Finanzwissenschaft, Note: 1,3, Technische Hochschule Ingolstadt, Sprache: Deutsch, Abstract: This research paper provides a broad understanding of the mechanism of the SCS, as well as the Chinese government's policies and objectives, through the application of information technology. In contrast, it is essential to analyze the controversial aspect of the SCS. It remains questionable to what extent 'China's big vision' will influence society through surveillance and the associated invasion of privacy, and whether it is morally and legally justifiable. Time means fundamental transformation. Transformation in society, technologies, economy and transformation in governance. With the rise of globalization and the invention of the Internet, the data generated increased steadily. New technologies such as Big Data have found their application in the most diverse areas. However, nowadays, it is important to integrate these kinds of key technologies into society. The People's Republic of China shows how Big Data and society can be united with each other. With the introduction of the so-called Social Credit System (SCS), the Chinese government is trying to expand the economic use of information technologies immensely, while at the same time enhancing social and political stability. The system, which assesses the credibility of its citizens, firms and organization, is causing a stir in liberal democratic countries.