The problem with modern socialism is it still creates an unbalanced power dynamic. In other words, the people who control the money and create the laws still have more power than the citizens. And that's hard to rectify, but there are a few solutions that might balance the scales. One way is changing how we use and distribute currency.
People love to hate on the idea of a social credit system. My question is, why? What are those types afraid of? In effect, we already have an unofficial social credit system; it just typically benefits the people in power. Take a judge, for example; they have an abundance of social credit within the confines of the courts. And for a judge to lose social credit, they would pretty much have to jump off a cliff. Conversely, a homeless person has zero social credit, and to turn that around they would have to climb a mountain with 3 people on their backs.
Ultimately I think an official social credit system would be much better than what we have. As long as every single person gets enrolled, and we allow people a clear path to move up within that system. In that sense, we can kill two birds with one stone. We can try to lift the people society has left behind, and we can start to hold people in power accountable. It sounds pretty fair to me.