Reddit co-founder Alexis Ohanian has joined a unique initiative aiming to acquire TikTok’s U.S. operations. The effort, known as “The People’s Bid for TikTok,” seeks to keep the popular video app under American ownership while giving more control to users and creators.
About the Bid
- Led by: Billionaire Frank McCourt, founder of Project Liberty, spearheads the initiative.
- Role of Alexis Ohanian: Serving as a strategic advisor, leveraging his extensive experience in social media and technology.
- Goal: To transform TikTok into a decentralized platform using blockchain technology, giving users ownership of their data and content.
The Blockchain Vision
- The bid plans to integrate Frequency, a decentralized blockchain protocol that enables users to control their data fully.
- This would shift TikTok toward a model focused on privacy, security, and user empowerment rather than centralized control.
Timeline and Competition
- The U.S. government has set a deadline of April 5, 2025, for ByteDance, TikTok’s parent company, to divest its American operations to avoid a potential ban.
- Other bidders include tech giants like Microsoft and Oracle, as well as influencers such as MrBeast.
- “The People’s Bid” stands out by emphasizing decentralization and community ownership.
What This Could Mean
If successful, this initiative could redefine social media ownership models by prioritizing user data rights and transparency. It may pave the way for more democratic control over digital platforms.
