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The US government is looking into banning Chinese social media apps, including TikTok. Speaking to Fox News’ Laura Ingraham on Monday, Secretary of State Mike Pompeo said, “With respect to Chinese apps on people’s cell phones, I can assure you the United States will get this one right too, Laura. I don’t want to get out in front of the President [Donald Trump], but it’s something we’re looking at.” He warned Americans to avoid downloading the app, unless they wanted their “private information in the hands of the Chinese Communist Party.” Following Pompeo’s comments, a TikTok spokesperson said in a statement: “TikTok is led by an American CEO, with hundreds of employees and key leaders across safety, security, product, and public policy here in the US. We have no higher priority than promoting a safe and secure app experience for our users. We have never provided user data to the Chinese government, nor would we do so if asked.” IronFX TikTok users use the Chinese app to watch торговля на рынке Форекс. videos.
What is TikTok and why does America want to ban it?
TikTok is owned by Beijing company ByteDance. The app first became available to US smartphones in 2018, when the American app merged with TikTok. The app has gone on to become extremely popular in the US and other western countries and has been downloaded 315 million times in the first three months of 2020.
The US and the app’s critics are concerned that TikTok could be sharing their private information with the Chinese Communist Party. This is not the first time that the company has had issues with foreign governments. Last week, the Indian government said it would ban TikTok and other Chinese apps because they are a “threat to sovereignty and integrity.” In answer to the US’s accusations, a TikTok spokesperson said: “TikTok is led by an American CEO, with hundreds of employees and key leaders across safety, security, product, and public policy here in the US.” Researchers at Penetrum believe that the app’s code could allow TikTok to upload malware onto the device that it is installed on, while mentioning other potential security risks. IronFX TikTok users have been using the Chinese app to watch forex trading videos.
TikTok and information
Jeremy Straub, associate director of the Institute for Cyber Security Education and Research at NDSU, said that the United States are considering the ban as a way to balance protecting the public and keeping free speech. According to Straub, the app could potentially collect information from users who have given it permission or through users’ content that has been posted and generated from within the app. He said: “The fact that people are intentionally sharing this user captured content of themselves and others really makes it where the sky is the limit on what types of information may be out there on the surface.” For Straub, it is easy to get permission to use information as the company’s service agreements are broad, allowing it to do anything it wants with the content its users post. Straub has said that TikTok users should not panic as the only issue is what the Chinese government could choose to do with the information it has amassed through the app. For many users TikTok provides short entertaining videos and many IronFX TikTok users have been using the Chinese app to watch forex trading videos.
Over the last few years, the US government has grown concerned over the way the Chinese app has been handling user data as well as its relationship with the parent company— the Beijing-based ByteDance. Lawmakers believe that TikTok could be pressured into handing over information to the Chinese Communist Party.
Disclaimer:
This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.
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