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In the midst of ongoing conversations about a potential total ban on TikTok in the United States, the platform’s leadership is investigating possibilities for integrating Web3 technologies.
ByteDance, TikTok’s parent company, has been accused in the U.S. of providing user data to Chinese authorities, despite the significant severing of connections between the Chinese firm and TikTok. U.S. officials compelled ByteDance to divest the American segment of TikTok to prevent a ban in the nation. Nevertheless, speculation regarding a complete prohibition of TikTok in the U.S. persists.
As a potential resolution, Jeffrey Edell, CEO of MeWe, proposed that TikTok’s management contemplate transitioning its platform to a blockchain. He argues that this approach would guarantee the security and transparency of personal data handling, thereby addressing the basis for the allegations.
MeWe is recognized as the largest decentralized social network globally, boasting an audience of over 20 million users. The core principle of the project is to uphold the privacy of users’ personal information. A distinctive feature of MeWe is the absence of advertisements, targeting, and manipulation of the news feed. The initiative operates on the blockchain platform Frequency, which is a parachain within the Polkadot ecosystem.
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TikTok’s management has not provided any comments regarding the suggestions for a shift to Web3. However, it has been reported that BytePlus, a ByteDance subsidiary focused on delivering technological services to corporate clients, has entered into a partnership with Mysten Labs, a company dedicated to supporting and advancing the Sui blockchain network.
One of the objectives of this collaboration is to enhance BytePlus gaming and social applications. Additionally, the company intends to modify its recommendation algorithms and AR products for implementation in decentralized applications built on Sui.
Specifically, developers on Sui will gain access to the BytePlus Recommend personalized suggestion service, whose algorithms can be utilized in Web3 initiatives. There are also plans to adapt the BytePlus Effects service, which features 80,000 pre-made stickers and effects for video applications, for use as an NFT platform.
The press release highlights that zkLogin and sponsored transaction capabilities available on the Sui blockchain network, along with the use of digital assets featuring dynamic characteristics and programmable ownership policies, will facilitate the creation of an entirely new user experience that will enhance the appeal of decentralized social applications and eliminate obstacles to widespread blockchain adoption.
Web3 technologies have garnered significant interest among TikTok users. Videos tagged with relevant hashtags amassed 115 billion views on the platform last year. Furthermore, TikTok serves as a favored platform for blockchain providers, utilized for product promotion, brand visibility, and community engagement. CP Media elaborated on the application of TikTok in Web3 and FinTech marketing through a complimentary educational course.
Сообщение TikTok to Start Using Web3 to Protect Personal Data появились сначала на CoinsPaid Media.
