Much speculation surrounds the fate of Tik Tok. News have broken out that Microsoft is set to acquire the American operations of the social media app. On the other hand, some lawmakers (including the President) have been actively seeking out ways to ban the chinese app from their country. Here’s the latest Executive Order effectively “banning” Tik Tok from American shores.
What does the order say?
A couple of days ago, Trump announced an Executive Order banning Tik Tok and other Chinese apps in 45 days. This puts further pressure on ByteDance Ltd. to find a suitable buyer for its social media application. As Trump has declared, they have until September 15 to find a new owner for Tik Tok.
The order came about after lawmakers have pointed out that Tik Tok might be a security threat to the country. They fear that the Chinese Communist Party might use the information obtained for espionage.
Trump made it a point that Tik Tok is enjoying its success due to its popularity in the United States. He further added that on top of the sale, Tik Tok must also send an undisclosed sum of money straight to the Treasury department. This will come from either Microsoft (who is positioned to buy the social media giant) or ByteDance Ltd.
Tik Tok is not the only one
Tik Tok is not the only Chinese-made app under the executive order. Another popular app in hot water is WeChat. It is a messaging app that serves the same function as other popular messaging applications.
One of the most notable features of the messaging platform is the ability to send payments. According to the order, financial transactions in the mobile app will come to an end on September 15. Moreover, all transactions with WeChat will stop after the orders.
Future of Chinese Apps
We have no idea what might happen to these Chinese applications. For Tik Tok, mark your calendars for September 15. We will know for sure what’s going to happen to the acquisition deal between Microsoft and Tik Tok. For the other apps, we are yet to find out the steps they are going to take following the President’s orders.
Read here about Tik Tok’s plan to support its content creators through a $200 million funding.
Opinions expressed by AsianBlurb contributors are their own.
Zakary Kelley is a technology reporter for Business Blurb covering social media and the digital products that are changing our lives.
