The popular streaming content portal TikTok aims to make the leap to the world of blockchain by other companies in the sector. TikTok founder ByteDance, along with ThePaper.cn, Shanghai Dongfang Newspaper and others have decided to partner to create Pengpai Audiovisual Technology Co.
The place chosen to launch this new company is Shandong, China, on December 10. The entity has a registered capital of 10 million yuan (1.3 million euros). ByteDance owns 49% of it, while the rest is divided among the other investors in smaller parts.
For now, the owners have not clarified the purpose of this new project. Until now the main function of the entity is the development of blockchain technology, together with artificial intelligence services. On the other hand, there has also been talk that they will provide services related to online data inspection and the development of AI applications for third parties.
The TikTok platform has more than 500 million monthly users and is one of the most popular applications in the world. This is governed by an algorithm controlled by artificial intelligence, it is responsible for showing you videos related to the ones you usually frequent. Improving this algorithm and introducing the blockchain into the application itself can be one of the main objectives to improve.
Another of the possible objectives to improve within TikTok through this company are the so-called “Deepfake” videos. These fragments of videos are modified through software to modify: faces, gestures, actions. After being modified, the videos may seem totally original. These videos can be used to trick or convey an incorrect message.