how come towns and villages existed for tens of thousands of years with no credit scores?
They did have them, just under a different name/implementation.
But the concept of collective trust is pretty core to any herd animal.
Modern credit scores mostly just differ in the fact you can obtain that info lightning fast, instead of by having to write a letter and waiting several weeks for the response on “can we trust this person’s claims? Can you vouch for them?”
They did have them, just under a different name/implementation.
But the concept of collective trust is pretty core to any herd animal.
Modern credit scores mostly just differ in the fact you can obtain that info lightning fast, instead of by having to write a letter and waiting several weeks for the response on “can we trust this person’s claims? Can you vouch for them?”