Reddit co-founder Alexis Ohanian confirmed joining the Project Liberty team aiming to take over TikTok’s assets in the United States and move the platform to a blockchain network.

As discussions continue regarding the future of TikTok in the US, Alexis Ohanian, co-founder of Reddit, announced that he will be part of the Project Liberty team aiming to acquire TikTok’s US operations.

Led by the founder of Project Liberty, Frank McCourt, the initiative aims to purchase TikTok’s activities in the US from its parent company ByteDance. The goal of the offer is to address national security concerns surrounding the platform and enhance the privacy of its 170 million American users.

Ohanian shared on X platform on March 3rd, stating, “I am now officially one of the people trying to buy TikTok US and I want to move it to blockchain.”

Ohanian stated, “Users should own their data. Content creators should have ownership of their audiences. Period.” McCourt, the founder of Project Liberty, aims to ensure that users have full control over their digital identities and data. At the core of this initiative is “Frequency,” a decentralized social network protocol that allows users to retain ownership of their personal data and utilizes the Polkadot infrastructure. Ohanian also shared on X, “TikTok has been a game-changer for content creators, and its future should be shaped by them.”

Reddit co-founder and tech entrepreneur Alexis Ohanian is no stranger to blockchain technology. Since 2022, Reddit has started investing its excess cash reserves in crypto assets such as Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC). However, Reddit largely sold off these investments by the third quarter of 2024.

What is blockchain technology? Blockchain technology provides individuals with control over digital identities. Thus, the blockchain, which is a global public ledger, is used not only in cryptocurrency production but also in various fields for processes like storage, management, and preservation.