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Monday, December 4, 2023

“Tiktok”: Economics along with privacy becomes the gruesome issues and it is turning into nightmare for Americans!

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Tiktok, fun and entertaining video-sharing app, created by ByteDance, a Bejing based IT company. The company’s founder is Zhang Yiming. This app has become quite familiar, and you can see short videos where dance, lipsync, talent videos, etc. are shared. Initially, this app’s availability was only for Chinese citizens in 2016.  But was later on TikTok was available throughout the world after it collaborated with Musical.ly.

Despite its popularity, this app has recently evoked several controversies throughout the world. With the outbreak of this pandemic, the economy of every country is not stable. Each one of us is in a vulnerable state. This pandemic has resulted in worldwide lockdown, during which there was a spike increase in TikTok users. With sources revealing about China’s espionage attempt using this deadly virus and all other malware, some countries have decided to boycott the Chinese products. India led this revolution, followed by America now. So, let’s continue reading this story to know Why exactly America decided to ban TikTok.

Tiktok poses a threat to nations worldwide.

The Tiktok is in the limelight throughout the summer in the USA for the obvious reasons. It enjoys a humongous fan base throughout the world. Whenever you install certain apps, specific permissions like access to your data or the internet, etc. are required. We readily accept all the terms and conditions without thinking about the future, but this is the real concern. Once you approve it, they can quickly transfer your data and act as a perfect ploy for espionage. With the digital enhancement, these things have become quite easy.

As this was an entertaining app, people of each age group and various professions took an interest in showing off their talents or for simply scrolling videos. However, this imposed a significant threat to national security as well as the privacy of the people. Many encrypted files containing the nation’s issues and secrets can easily be accessed if you have these apps on your phone. Thereby putting you in an unsafe condition, and you would be unknowingly acting as a puppet in their hands. But, apart from this, another primary concern was there for the American government, which led to Trump’s banning the TikTok app announcement.

The American government decides to ban TikTok.

Apart from the privacy issue, as mentioned earlier, another major problem that imposed a threat to the American Economy was the price for selling all the IP rights of Tiktok to other alternatives. Continue reading to know more.

When The American government realised Tiktok to be a threat to national security, it decided to put an end to the contract and accused them of espionage. However, ByteDance falsified the accusations and called upon the Americans for not being fair and cancelling the contract. However, Trump gave an ultimatum to them for selling the TikTok to other stable, safe, and non -Chinese brands for an effective and harmonious way to revamp the app. But, the mainland -Chinese company demanded a price of approx $50billion to Microsoft for transferring the IP rights ultimately. Isn’t this a bit too much?

With this permanent lockdown, and seizure of several business platforms, the country’s economy is unstable. This unstable economy may lead to recession again. But, amidst all this chaotic situation, paying a whopping amount of $50 billion is quite extreme. This whopping amount may shake the Economy of America very severely. However, China’s Economy is a little bit shocked. But it can be recovered, as three of the five China’s wealthiest people, i.e., Ma Huateng, CEO of Tencent, Jack Ma, founder of Alibaba and Colin Huang, chairman of Pinduoduo are from the tech industry. 

Trump deciding on alternatives for TikTok

TikTok threatening privacy, as well as the economy of the nation, has lead Trump not to ban this app. But, it is trying to pursue the Chinese company to sells its IP rights to other stable, non-Chinese competitors. One of them is Microsoft. Trump has even threatened the ByteDance with a warning that if they don’t sell their rights to a non-Chinese competition by September 2020, then he would ban TikTok in the USA. He also mentioned that any significant, secure, American company would do. Be it Microsoft or any other company, should take over and buy this Chinese company.

The American citizens have even Tweeted regarding their concern for an alternative to Tiktok. Have a look.

So, let’s wait and watch how this story unfolds and what happens next.

For more updates, stay tuned and stay safe.

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