Bytedance Stated That Tiktok Business Will Continue

In the Chinese media, the announcement that Bytedance still holds the majority was well received. Bytedance is "not out of the game", judged the "Global Times". Bytedance prevented the worst. The algorithms also played a major role in the negotiations, which among other things determine which videos are recommended to users in which order. This is said to be the secret of Tiktok's success. There are so far no plans to hand over algorithms to Oracle or Walmart in the deal, announced Bytedance. If algorithms had been transferred, the approval of the Chinese Ministry of Commerce would have been necessary. Oracle and Walmart had stated that all Tiktok technology would be in the hands of the newly founded company Tiktok Global. Trump had ordered on August 14th that Bytedance had 90 days to sell Tiktok, otherwise the service, which is especially popular with young people, would be banned. The Republican, who is currently fighting for his re-election, justifies this stance with concerns about the user data of the approximately 100 million Americans who could end up in the hands of the Chinese Communist Party. According to Tiktok, this user data will be administered by Oracle in the future. The US group should therefore also be responsible for the security of all related IT systems. "This agreement fully meets the US national security requirements," said Tiktok.