The new rules seem to mirror Trump’s policies in that they could force TikTok to submit to third-party auditing, source code examination, and monitoring of user data logs.
Regulatory concerns over data integrity on the popular short video app prompted pressure for TikTok to sell its U.S. business or otherwise divest from Chinese interests.
A dedicated US-based team of engineers and cyber security workers would act as gatekeepers for US users’ data. This would be independent of TikTok’s supervision.
TikTok internally calls the agreement “Project Texas.” Oracle has its headquarters in Austin, Texas.
Oracle CEO Safra Catz and Chairman Larry Ellison were on a conference call with analysts. They were asked about the status of the TikTok-Oracle deal.
After Ellison laughed and Catz told analysts, “The one thing I can tell you is, we have an excellent relationship with the folks at TikTok.”
TikTok is one of the world’s most popular social media apps in the world with more than 1 billion active users.
