Sunday, November 29, 2020
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TikTok — banned?

Many companies wanted to take over TikTok’s American business. The companies that fought for this were Apple, Oracle, Microsoft, Walmart, IBM, Google. In the final settlement, Oracle will take over 12,5 percent of TikTok shares, and Walmart will take 7.5 percent. It is, therefore, easy to count that these two companies will hold 20 percent of TikTok’s shares in business. The end goal of the Chinese is to ensure that all transactions will increase TikTok’s worth to $60 billion. If this were to happen, Oracle would have to pay $7.5 billion and Walmart $4.5 billion.

The deal is intended to resolve a dispute that could have ended the application’s existence in the United States. TikTok’s American business will be given to a separate company, TikTok Global. Doug McMillon, President of Walmart, will join TikTok’s board of directors. There is no information yet as to what Oracle’s role will be exactly. At this point, we can find out that they will be a trusted technology provider. That’s why all US user data is to be fully secured. Some time ago, US President Donald Trump banned the use of this application, with security being the main issue. As announced, Oracle should quickly deploy all systems and support TikTok’s cloud systems. Everyone involved with this brand is certain that they will be able to provide security for all users an — more importantly — full privacy. This, of course, regards the American users of the app. The agreement is not yet signed, but the first shortcomings have nevertheless emerged. Donald Trump said that the new entity would be led by the Americans and will pay the US government $5 billion. ByteDance, on the other hand, informed that it would retain full control of the algorithms and would only allow Oracle limited access to browse the source code for security reasons. In regards to the money mentioned by the US President, it should be paid within a few years, but not in the form of cash or money transfer, but rather as taxes on current activities, not a typical transaction fee.

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