For six weeks, the Chinese parent company Bytedance negotiated the future of its social media app Tiktok in the USA.
Finally, ByteDance has decided that Oracle will become the technological partner of TikTok in the United States, to prevent the social network from being blocked since November in the country.
According to a statement issued by Oracle, the agreement between them and ByteDance is only part of the proposal that the Chinese group has sent to the United States Department of the Treasury.
In the agreement, Oracle is listed as a “trusted technology provider,” although it is unclear how ownership of TikTok will be structured. Of course, it will not be sold.
If the agreement receives the approval of the Chinese and US authorities, which is by no means guaranteed, the problems for TikTok in the United States will end.
For now, as Treasury Secretary Steve Mnuchi has told CNBC , the Trump Administration will review the proposal this week to determine if the proposal is safe.