Reddit Co-Founder Alexis Ohanian has joined forces with Project Liberty to acquire TikTok's U.S. operations. The aim is to transition the platform to blockchain, granting users control over their data.
Transitioning Social Platforms to Blockchain
Frank McCourt, founder of Project Liberty, aims to acquire TikTok to rebuild the platform, giving users control over their digital identities through the Frequency protocol, based on Polkadot infrastructure. This protocol is set to create a decentralized social network where personal data belong to the users.
Purpose of Project Liberty and Ohanian's Role
Alexis Ohanian has joined Project Liberty as a strategic advisor, focusing on purchasing TikTok and enhancing the platform with transparency and accountability. Ohanian aims to implement these principles in making TikTok fairer and better.
Previous Reddit Experience and Plans
Ohanian is no stranger to blockchain tech; starting in 2022, Reddit invested in Bitcoin, Ether, and Polygon. Reddit also launched a blockchain-backed avatar platform and a rewards service 'Community Points,' which was shut down in 2023.
By involving in TikTok's acquisition project, Alexis Ohanian seeks to leverage blockchain expertise and previous Reddit successes to transform TikTok, emphasizing decentralization and user control over data.
