TikTok's potential buyers plan to decentralize it or will use a Polkadot parachain social platform

ChainCatcher news, according to CryptoSlate, American billionaire Frank McCourt is leading a consortium to acquire TikTok and decentralize it using Project Liberty's Decentralized Social Network Protocol (DSNP).

In a press statement, McCourt emphasized that the bid aims to empower users by migrating TikTok to an open-source protocol. This move is intended to restore control over digital identity and data, giving Americans a significant voice and stake in the future of the network. McCourt plans to rebuild TikTok with DSNP, utilizing the Polkadot parachain social platform Frequency.