On September 14, 2020 in Berlin, Germany, the Chinese video portal Ticket OK and the logo of the US Germany software and hardware manufacturer Oracle Corporation can be seen on smartphones and screens.
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Gunzkhau, China – Social media app Bitdance will not transfer algorithms and techniques to Oracle as part of a deal announced over the weekend to keep working in
President Donald Trump said on Saturday he had approved a deal with Oracle and Walmart that would see U.S. headquarters ticketing OK Global take a minority stake. Oracle Ticket OK will become a secure cloud provider and host US user data.
A statement from Bidens on Monday stated that “the transfer does not require the transfer of any algorithms or technologies.” The company said Oracle could verify the source code instead.
“The current plan does not involve the transfer of any algorithms and technologies. Oracle has the authority to check the source code of Ticket USA,” according to a CNBC translation, bytons statement.
Source code forms the basis for application and application software. It is common practice to allow source code inspections to address local data security concerns.
The ticket ok’s recommendation algorithm is the main driver behind its growth, helping users to suggest other videos and keep them hooked in the app.
Bytens has also confirmed that it will conduct a pre-IPO (initial public offering) financial mini-round. Giving Ticket OK Global a majority control will result in a 80% holding subsidiary of BitDance. As part of the Oracle and Walmart deals, the companies said they would move to the U.S. in a year. Will work towards public listing in.
Over the weekend, Trump told the new ticket ok Global that “no foreign land, no dealings with any foreign country, it has nothing to do with China. It will be completely safe. It will be part of this deal.” ”
The majority ownership of Beijing-based ByteDance ticket ok seems contradictory. But BitDance is 40% owned by U.S. venture capital companies, so the Trump administration can technically claim Ticket OK Global that it now owns the majority of U.S. money.
Last month, when the ticket deal seemed to be coming to a conclusion, China threw a spinner into the work by updating the list of technologies of genie subject to its export restrictions. Recommended is a technique on the list related to algorithms. After Beijing took the step, Bitdance said it would abide by the rules.
Washington Washington claimed that the ticket posed a national security threat because it collected data on American users that could be accessed by Beijing. Ticket OK has repeatedly denied this and said it stores data of Americans in the US with backups in Singapore.
In August, Trump issued an executive order approving U.S. sanctions that would take effect on September 20. Dealing with bytes was banned and tickets will be effectively canceled. Week.
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