The potential buy is amid longstanding stress towards ByteDance, the China-based dad or mum entity of TikTok, by the US authorities to promote its operations within the US. The administration of President Trump has pressured TikTok to dump or shut the US operation on nationwide safety issues. Though authorities initially prohibited TikTok briefly this yr, they later allowed it to restart operations.
There are a number of know-how giants which have expressed curiosity in shopping for TikTok US. Elon Musk, MrBeast, and Perplexity, funded by Jeff Bezos, have reportedly submitted bids as excessive as $50 billion. Nonetheless, ByteDance has not but reached a remaining resolution.
Ohanian’s plan to carry TikTok onto the blockchain may mark a significant shift in social media. The mission goals to provide customers management over their private knowledge by the Frequency protocol on the Polkadot blockchain. This may enable customers to personal their knowledge slightly than leaving it within the arms of huge companies.
If profitable, TikTok would change into the primary main social media platform on the blockchain, signaling the transition from Web2 to Web3. Reddit’s rising curiosity in blockchain, AI, and cryptocurrencies reveals its dedication to reshaping the digital panorama.
