TikTok – the famous short video platform, is facing the risk of being banned in the US if it is not sold. Under pressure from the US government, many billionaires and large corporations are vying for the opportunity to acquire this app. A notable name that just joined the race is Alexis Ohanian, co-founder of Reddit, with the ambition to bring TikTok to the blockchain so that users truly hold control over their data.

Could this become a significant turning point in the social media and cryptocurrency industries?

🔥 Ohanian and the Ambition of Decentralized Social Media

On March 5, 2025, Alexis Ohanian announced his participation in the acquisition #tiktok in the US as a strategic advisor to billionaire Frank McCourt. Ohanian stated that if this deal is successful, he would move TikTok to the blockchain to give data control back to users and content creators.

To realize this plan, Ohanian and McCourt have chosen the blockchain layer-1 Frequency, a platform originally developed on $DOT but has now expanded to $ETH . Frequency is built on the Decentralized Social Networking Protocol (DSNP) of Project Liberty, aiming to create a new standard for decentralized social media.

This plan, also known as "The People's Bid", is not just an acquisition but a revolution in how social media operates. Ohanian asserts:

"We are shaping a new standard where users truly hold power. A TikTok owned by the users, created by the users."

Billionaire McCourt also emphasized that Ohanian's crucial role is to help promote and validate the vision of a decentralized TikTok.

🚀 How is Blockchain Changing Social Media?

Ohanian is no stranger to blockchain. He has experimented with various Web3 applications in social media:
✅ Reddit Community Points (2020): A reward system on Ethereum for Reddit users.
✅ Reddit NFT Avatars (2022): An NFT collection on $POL , attracting millions of participants.
✅ Seven Seven Six: Ohanian's investment fund has invested in major Web3 projects such as Yuga Labs, Doodles, Rainbow, Sorare.

If TikTok moves to the blockchain, it could become a version of "decentralized YouTube", where:
✅ Users own their content, not controlled or have their videos deleted at the platform's discretion.
✅ Transparent data, anti-censorship, not interfered with by big tech corporations.
✅ Earning money through tokens or NFTs, independent of traditional advertising.

The collaboration between Frequency and Consensys is also helping to expand this blockchain ecosystem to Ethereum, creating an open ecosystem for Web3 social media.

📉 Why is TikTok Facing the Risk of Being Banned?

This deal comes as the US government intensifies pressure on #ByteDance – TikTok's parent company in China – to sell its operations in the US or face a complete ban.

⏳ The US Congress has passed a law requiring ByteDance to divest by January 19, 2025. If not, TikTok will be completely blocked in the US.
📝 However, President Donald Trump has signed an order extending TikTok's deadline by an additional 75 days, assigning Vice President JD Vance to oversee negotiations.
💰 The value of the acquisition deal could reach up to $50 billion, based on TikTok's user scale and advertising revenue in the US.

However, ByteDance has not made any clear moves yet. Many experts believe they might choose to halt TikTok operations in the US instead of selling.

🔗 What Role Does Cryptocurrency Play in This Race?

The connection between blockchain, Web3, and TikTok is becoming clearer than ever. If Ohanian succeeds:
✅ TikTok could become the largest Web3 application, attracting billions of users into the crypto market.
✅ NFTs, tokens, and DeFi will become the primary means of earning money for content creators.
✅ Ethereum and Layer-1 projects like Frequency will greatly benefit from the boom of decentralized social networks.

While many traditional companies are competing to acquire TikTok, Ohanian's plan could create a real revolution. Can a decentralized version of TikTok become a reality? Let's wait and see! 🚀 #anhbacong