Alexis Ohanian, a co-founder of Reddit, has announced his intention to participate in a bid to acquire the US operations of TikTok. His plans include integrating the platform with blockchain technology to empower users and enhance their control over their data.

This initiative aims to benefit the 170 million TikTok users in the US by enabling them to manage their data through the Frequency blockchain protocol. Ohanian emphasized the importance of allowing creators to gain more control over their digital presence, asserting that the future of TikTok should be determined by its users.

Ohanian’s bid comes amid increasing pressure on ByteDance to divest TikTok’s American operations due to a law enacted by the Biden administration and the extension of previous executive orders by former President Trump. His group, which includes notable investor Kevin O’Leary, is competing with major companies like Microsoft and Oracle for the acquisition. However, there are concerns regarding the potential transaction, as ByteDance has not confirmed any plans for a sale, and the lack of a clear valuation or asset list raises questions. Additionally, significant technical challenges exist in adapting TikTok’s extensive platform to a blockchain infrastructure.

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