Tuesday, April 20, 2021
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TikTok and Oracle’s Deal, what is the hold up?

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Ahmed Bekoe
Passionate about providing you with relevant and accurate information; be it creative or current affairs in the world around us. Hit me for commercial write ups below. Email: ahmedbekoe30@gmail.com

As the clock keeps ticking, the tension between President Trump and ByteDance own TikTok keeps rising.

During a press conference on Wednesday evening, Trump said he was not happy about the bid on TikTok, however he added that he will give out the details of the deal between TikTok and Oracle, the accepted buyer. As reported by Bloomberg.

Several tech giants have gone to place their bid on TikTok, Microsoft, Twitter and Triller have all taken part in the buying of TikTok but Oracle Corp. having the backing of Trump won the race for the bid.

Sources had it that, after a smooth signing between the government of US, TikTok and Oracle, ByteDance will still have possession of personal information of users in America.

Terms of proposed deal would give Oracle full access to TikTok’s source code and updates to make sure that there are no back doors used by ByteDance to access users personal information on TikTok.

Oracle a “trusted technology partner.”

The newly formed TikTok by Oracle will have its headquarters in the United States and would hire an independent board approved by the US government. After a successful deal, Oracle will have to report the audit and every movement to the US official who will be the third party in this deal.

It was reported that ByteDance had its own prepared deal that states that they will continue to maintain majority share but will sell it to Oracle. This deal had Trump angry with a promising 20,000 new jobs that ByteDance will create in the States will allow ByteDance to sway it way to what it wants.

With China’s new international regulated rules that affect TikTok, ByteDance will have to seek the communist party approval in order to sell TikTok, such a controversy.

Will TikTok finally be banned without the signing of the deal or will face great regrets for not selling it.

Is this a means for Donald Trump to win the November 3 election or to prevent the upcoming election to be hijacked?

Stay intact for the next update.

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