TikTok Ban Canceled as Trump Gives New Oracle & Walmart Deal His Blessing
President Donald Trump has retaliated on his decision to ban Tiktok. As on WeChat, a judge in California temporarily suspended the ban, meaning the app would run like normal at the moment. Trump held a rally over the weekend in Fayetteville, North Carolina, where he discussed the possibilities of tech giants Oracle and Walmart joining to save Techtalk. A deal was struck late last night, which Trump offered his blessing. “I have given my blessing to this deal,” he said. “I approve of the agreement in concept.”
Oracle and Walmart have partnered to make Ticketok global, headquartered in the United States. The deal clearly satisfies the White House’s concerns over the security of US user data. That being said, Chinese tech company ByteDance will still maintain a majority-owned position. Oracle and Walmart have only 20% of TicTalk. According to former Chief Privacy Officer Chris Kelly on Facebook, “the Chinese government’s ability to negotiate with, and pressure the ByteDance company is still sufficient.”
Tiktok sees more than 100 million active users monthly and Trump has put a lot of pressure on them to sever ties with Chinese company Baydance. The fear is that China may acquire US user data and use it for cyber attacks. Oracle will now house all user data in the United States to ensure that nothing untoward happens to it, although security breaches are still very possible at this point. In addition, China will likely still have access to the data that they already have. Oracle CEO Sefra Katz, who has also served as a member of Trump’s 2016 transition, in our ability to give Tikkok a highly secure environment and ensure data privacy for Tiktok’s US users, and users around the world 100% convinced. Team.
Walmart and Oracle are expected to benefit greatly from the new deal. Although Tickcock still owns 80% of the shares with ByteDance, there are fears that the New Deal may open the backdoor for China to gain greater access to United States user data. An anonymous official of the Committee on Foreign Investment (CFIUS) in the United States said, “ByteDance is still the biggest dog in the deal. The foreign control issue does not go away.”
It is believed that the new deal between Oracle, Walmart and ByteDance will produce 25,000 new American jobs while bringing in close to $ 5 billion in US Treasury taxes. However, the companies did not offer a time frame in which all this would happen. Included in the deal is a course in American history that will promote Donald Trump’s recently announced “patriotic education”. The deal has not yet been finalized by Oracle, Walmart, ByteDance or CFIUS. NPR was one of the first outlets to report on Tickcock Rescue.
Topics: Tickcock, Trump