Amid active discussion of a complete ban on TikTok in the United States, the social network’s management is exploring options for using Web3 technologies.
ByteDance, the parent company of TikTok, faced accusations in the United States of handing over users’ data to Chinese authorities despite the almost complete breakdown of ties between the Chinese corporation and TikTok. U.S. authorities forced ByteDance to sell the U.S. portion of TikTok to avoid being banned in the country. Still, rumors of a complete ban on TikTok in the U.S. continue circulating actively.
As a possible way out of the situation, Jeffrey Edell, CEO of MeWe, suggested that TikTok management consider moving its platform to a blockchain. He believes such a solution would ensure the security and transparency of personal data usage and eliminate the reasons for accusations.
MeWe is the world’s largest decentralized social network, with an audience exceeding 20 million users. The project’s main idea is to respect the confidentiality of users’ personal data. MeWe’s peculiarity is the absence of ads, targeting, and manipulation of the news feed. The project is based on the blockchain platform Frequency, a parachain in the Polkadot ecosystem.
The management of TikTok didn’t comment on the proposals regarding the transition to Web3. However, almost in parallel, it became known that BytePlus, a subsidiary of ByteDance, which specializes in providing tech services to corporate clients, agreed to a partnership with Mysten Labs, which is engaged in supporting and developing the blockchain network Sui.
One of the cooperation goals is to develop BytePlus gaming and social applications. Moreover, the company plans to adapt its recommendation algorithms and AR products for use in decentralized apps based on Sui.
In particular, Sui devs will have access to the BytePlus Recommend personalized suggestion service, whose algorithms can be used in Web3 projects. Plans are also in place to adapt the BytePlus Effects service, which includes 80,000 ready-made stickers and effects for video apps for use as an NFT platform.
The press release notes that zkLogin and sponsored transaction functions available on the Sui blockchain network and the use of digital assets with dynamic features and programmable ownership policies will allow for the creation of a completely new UX that will contribute to the growing popularity of decentralized social apps and remove barriers to mass blockchain adoption.
Web3 technologies are quite a popular topic among TikTok users. Videos with thematic hashtags gained 115 billion views on the social platform last year. In addition, TikTok is a popular platform among blockchain providers, and it’s used for product promotion, brand awareness, and community development. CP Media detailed using TikTok in Web3 and FinTech marketing in a free educational course.
