Reddit co-founder aims to put TikTok on the blockchain with US acquisition bid

Reddit co-founder Alexis Ohanian has joined a bid to get TikTok’s US operations, a determination led by billionaire Frank McCourt with plans to integrate blockchain exertion into the platform.

On March 4, Ohanian confirmed his engagement successful the bid done a station connected X. He is joining arsenic a strategical adviser, leveraging his acquisition successful societal media and integer innovation.

Ohanian stated:

“I’m officially present 1 of the radical trying to bargain TikTok US — and bring it on-chain. TikTok has been a game-changer for creators, and it’s aboriginal should beryllium built by them.”

McCourt reportedly noted that Ohanian’s insights into societal platforms and their improvement would fortify the bid and enactment the imaginativeness down Project Liberty.

The acquisition bid, branded arsenic the “People’s Bid,” aims to integrate distributed ledger exertion into TikTok.

Ohanian emphasized that this attack would empower creators and users, allowing them to instrumentality ownership of their assemblage and data. He described the inaugural arsenic a measurement toward making TikTok a level controlled by its assemblage alternatively than firm entities.

He added:

“Users should ain their data. Creators should ain their audience. Period.”

Frequency, a Polkadot parachain, is acceptable to powerfulness this transformation. The web is designed to heighten transparency, accountability, and idiosyncratic control.

Ohanian pointed retired that Frequency would guarantee these decentralized principles are embedded successful TikTok’s operations, making the level much equitable and sustainable. He noted:

“Frequency volition empower these principles to go reality. And with transparency and accountability astatine the core, this caller TikTok won’t conscionable beryllium fairer—it’ll beryllium GREATER.”

If ByteDance approves the offer, TikTok US volition integrate Frequency’s blockchain framework, reinforcing decentralization and idiosyncratic empowerment.

Meanwhile, the acquisition effort comes amid increasing regulatory unit connected ByteDance to divest its US assets oregon look a imaginable ban. TikTok concisely unopen down connected Jan. 19 successful compliance with an bid demanding its merchantability but resumed operations aft a impermanent hold was granted.

The station Reddit co-founder aims to enactment TikTok connected the blockchain with US acquisition bid appeared archetypal connected CryptoSlate.