 "ByteDance")
Chinese short-video making platform TikTok is finalising a deal with Cloud major Oracle to store users data in the US without giving access to its Chinese parent company ByteDance, the media reported.
According to BuzzFeed News, the pact is known internally at TikTok as "Project Texas," a reference to Oracle's Texas headquarters.
The company will put in place new controls that restrict access to US user data.
According to reports, it is still not clear how much access Chinese teams will have to the data and the US-based team.
Last year, the exit of Donald Trump from the White House reportedly led Beijing-based ByteDance to walk away from a deal to sell its popular short video-sharing platform TikTok's US operations to Oracle.
The Trump administration had cited national security concerns to bring restrictions on TikTok's US operations.
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Although the platform denied the allegations, an executive order from the administration required ByteDance to sell or spin off TikTok operations in the US, leading to talks with prospective buyers in the country.
In September 2020, Cloud major Oracle and retail behemoth Walmart came together to save TikTok from the US ban, forming a new company called TikTok Global.
The deal got blessings from Trump, but the transaction did not materialise during his tenure.
According to reports, Biden undertook "a broad review of his predecessor's efforts to address potential security risks from Chinese tech companies".
--IANS
na/shb/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
