To enhance requirements of residing, Yang is proposing a brand new forex referred to as digital social credit score, “which could be transformed into {dollars} and used to reward individuals and organizations who drive vital social worth.”

Yang believes in “human-centered capitalism.” He says the success of the nation shouldn’t simply be measured by GDP, but in addition by measurements of median revenue, health-adjusted life expectancy, psychological well being, childhood success charges, social and financial mobility and absence of substance abuse.

Conservative media websites have in contrast the plan to China’s social credit score system, which allows the Chinese government to share info on its residents’ trustworthiness and difficulty penalties primarily based on a social credit score rating. Yang’s chief of workers, Matthew Shinners, defended the proposal to conservative website The Daily Caller. Yang’s thought, Shinners stated, just isn’t much like China’s system, which is extra like a ranking on residents quite than a system of credit that they will profit from.

Yang’s workplace didn’t reply to CNBC’s repeated requests for remark.

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