This enables owner-operators and engineering companies to gain faster returns on investment by speeding time to production and enabling efficient asset operations. There are many industry forces that are driving energy and engineering companies to examine how they control their engineering information and work processes. These companies have learned to adapt to fluctuating and often cyclical commodity prices. When commodity prices go up, they shift focus to investing in Capital Projects.
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The app informs your score has increased 15 points for the month. Overall, your social credit score has increased. This is exactly what Beijing will look like in How the Middle Kingdom lost control China is an economic phenomenon. Since the end of the Mao regime in , the leadership in China has pushed to open their economy for international trade.
All while trying desperately to maintain tight communist-like controls on people. Chinese leaders began opening the trade pathways by turning their one billion people into a manufacturing powerhouse. Within a decade, the Chinese people were the cheap labour source for the majority of Western countries. Come the mids, when industrial cities were being built in rural areas.
Permanent homes were needed rather than temporary shelters. Bridges and roads were built to get them there. Leading to the biggest credit-driven infrastructure boom this century. In all of this growth, however, China was losing control of their people. But with the explosion of jobs and less restriction on movement between towns, keeping up-to-date data on individuals was difficult. That was until , when the Chinese government started to take advantage of the million citizens that owned smartphones.
Today, that number has almost doubled to million. Making social monitoring a whole lot easier. And it all began through the simple use of a smartphone app called Zhima Credit. Developed by Ant Financial — a branch of Alibaba — Zhima credit promoted itself as a tool for establishing personal credit in China.
Then, the algorithm would spit an out analysis of your personal behaviour. In the early days, the personal credit score would get you discounts on some goods. However, the massive uptake of mobile phone use and the associated personal credit score will soon take a much darker turn. Plus there is a deep, inherent mistrust of the banks in the Middle Kingdom. So, establishing a credit system in a country where credit is scarce was impossible.
However, the young, tech-savvy Chinese population were keen to adopt mobile phone technology and all its benefits. And given that outside mobile payment platforms are banned inside China, electronic transactions are paid using either the WeChat or Alipay-owned technology. Essentially, concentrating the data to one or two companies. And enabling mass analysis of all the transaction data.
Ignoring road rules and trashing the government are punished. Already, some 11 million flights and 4 million train trips have been stopped by people with a low social credit score. His only option to travel across the country was a third-class seat on a train. And guess what? This social credit score system will be rolled out to Beijing in And monitor the 20 million people in the city daily.
Controlling political dissent To ensure social behaviour is controlled, the social credit system even links friendship groups together.
And their credit score affects your credit score. Meaning you better have a group of like-minded friends, or your personal score will get dragged down. Although in Australia, we just call it Big Brother. The idea is that China wants its people to know they are always watching. This is something, of course, that hints to just how insecure the political leadership in the country really is. Why do this? It discourages dissent. It allows a dictatorship to monitor and control and twist the population into the shape they want.
There is a powerful dictatorship forming in China. China may be getting ready to watch their people. As a consultant at a derivatives brokering firm, she helped clients navigate the complex world of derivatives and technical analysis.
Shae, an avid gold investor, also works alongside Jim Rickards as his Australian analyst for Strategic Intelligence, an advisory dedicated to showing Aussie investors how to read and take advantage of global macro trends.
Hacker Evolution Untold
The app informs your score has increased 15 points for the month. Overall, your social credit score has increased. This is exactly what Beijing will look like in How the Middle Kingdom lost control China is an economic phenomenon.
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A SEF occurs when employees, acting in good faith, comply with instructions sent via email to make a wire transfer or another type of transfer, to a fraudulent third party replicating a legitimate correspondence. However, wording can vary from carrier to carrier. Voluntary Parting Exclusion: The so-called voluntary parting exclusion is a key exclusion carriers may use in declining coverage. Computer Fraud: This generally covers an organization for direct loss of money or other title or property, sustained by the insured resulting from computer fraud committed by a third party.