Speedy NEWS

Rebooting Society with New Credit Scores

I was Zooming with a Kenyan businessman today.
In Kenya, the average age of the people in town is said to be very young.
So, when you are in a café, the “awkward” waiter, who is not used to working, gives “clumsy” service.
He said that no matter which company he went to, he always felt the same “awkwardness.
This is where the country’s potential lies. Young people who have not yet been molded by society will create the future of the country. How wonderful.
For example, Japan should fundamentally rethink the way credit is provided (credit scores).
When I visited Kyoto the other day, I strongly felt that “no first-time visitors” is too poor a basis for trust. If we believe that history and time create credibility, the city will be infested with old people.
I started my own business at the age of 51 and no bank would even open an account for me. I didn’t even borrow money. Usually they would say, “We will be happy to open an account for you. Please work hard and make money. Maybe as the country gets older, the way credit scores are taken is shifting.
If you have to be in the same company for a long time and have a high position to get a credit score, there are too few people in the population who are creditworthy by any stretch of the imagination! The liquidity of money will disappear and society will become arteriosclerotic. ←This is Japan today.
These days, there are emerging restaurants that have higher credit scores for customers who have kept their reservations more often than established restaurants where only patrons can make reservations. Very good. Don’t put the axis of trust in the passage of time or locality, people who keep their promises, regardless of age, have higher credit scores.
For example, if a newcomer wants to rent farmland, they will not rent it. They say it is because they have no track record. And the farmland is half-abandoned and decaying due to aging. This happens because they think the land has value. If you put the standard of value on the crops that can be produced from that land, the credit score becomes whether or not the newcomer can produce crops properly. If they aren’t doing anything anyway, let them do it. If they can’t, no harm done. If they can do it, they can share the vegetables with you for the rent of the land. It would create a new kind of communication. There are abandoned farmlands like this all over Japan, and farmland banks have been established, but they have not been successful due to lackluster matching criteria.
Youth is a weapon. Youthfulness, regardless of age, is the treasure of society. Support those who do things differently from others. Trust those who get angry and argue with you. Let’s trust those who learn from their mistakes and try again!
Living in punk.