President Trump on Saturday night disclosed that he had approved in principle a deal in which major Oracle and Walmart would partner with TikTok in the U.S, thereby allowing the fast-growing social app to maintain operation in the world’s largest economy.
“I have given the deal my blessing if they get it done that’s great if they don’t that’s okay too,” Trump told reporters on the White House South Lawn before departing for North Carolina. “I approved the deal in concept.”
Trump further disclosed the new firm will likely be registered in Texas.
Shortly after Trump’s comments, Oracle announced it was chosen as TikTok’s secure cloud provider and will become a minority investor with a 12.5% stake. Walmart and TikTok could not be immediately reached for comment. Trump said the companies would unveil the full scope of the deal soon.
Oracle CEO Safra Catz spoke elaborately on the deal saying; “We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world.
“This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders.”
Nairametrics, a few days ago broke the news on the proposed plan, awaiting President Trump’s approval, which included Oracle owning a minority stake that will be lower than 20% of the new global TikTok. Walmart, the world’s biggest retailer by revenue will also take a stake, though its amount remains unknown.
While the Chinese authorities have asserted it’s right to obstruct the sale of vital technologies, it is likely to approve the deal as long as it doesn’t involve the transfer of the artificial intelligence algorithms that drive TikTok’s service.
Explore the Nairametrics Research Website for Economic and Financial Data
5 Nigerian startups selected to join 7 others at the Africa Tech Summit Connects (ATS)
5 Nigerian startups to join 7 other African firms on the Africa Tech Summit Connects (ATS).
Five Nigerian firms have been shortlisted among the 12 African startups to pitch live at this month’s digital Africa Tech Summit Connects in Kigali, Rwanda.
This is to showcase their solutions to the global audience of 500 investors, corporates, and other stakeholders.
Disrupt Africa and Africa Tech Summit (ATS) disclosed it had reviewed its partnership to integrate startup-focused sessions plenary and pitching chances in its virtual Africa Tech Summit Connects event scheduled to hold virtually on the 20th – 22nd of October 2020.
What you need to know
ATS is a fully-virtual event and not a webinar. The event would maximize their time with AI-powered smart matchmaking and give startups opportunities in the online business community.
Why this matters
The three days course will enable them to engage with parties through a variety of online mediums. It would encourage the exhibition of recent developments in the continent across the start-up world, and it would focus on fintech, logistics, ed-tech, agri-tech, e-commerce, investment, regulation and policy, blockchain, connectivity.
With over 50 African tech start-up applicants seeking to raise either pre-seed, seed, or Series A funding; 5 out of the 12 selected to participate and present their solutions to the audience, and also connect virtually with those interested are Nigerian start-ups. The selected start-up companies are;
- Medsaf (Nigeria),
- Seso Global (Nigeria),
- Wella Health (Nigeria),
- Vybe (Nigeria),
- Scrapays (Nigeria),
- Agro Innova (Ghana),
- PayDunya (Senegal),
- Snode (South Africa),
- Moja Ride (Ivory Coast),
- Eneza Telecom (Kenya),
- Kolute Systems (Senegal),
- Abiria (Kenya).
#EndSARS: Popular hacking group, Anonymous allegedly hacks Nigerian Govt. websites
Anonymous disclosed via its Twitter handle, that it had breached some Nigerian government websites.
Popular hacking group, Anonymous has claimed via its Twitter handle, that it had breached some Nigerian government websites.
The act is said to be in support of the ongoing #EndSARS protest that has taken over many cities in Nigeria, following calls for the disbandment of notorious police unit, the Federal Special Anti-Robbery Squad (FSARS) which has been alleged to be involved in abduction, harassment, extortion and murder of innocent victims.
Anonymous tweet, “Nigeria: Anonymous hacks multiple government websites in solidarity with #EndSARS protestors and retribution for violence by police. #OpNigeria #EndSARS Protest.”
— Anonymous (@YourAnonCentral) October 14, 2020
That said Anonymous did not disclose the identity of websites breached.
Nairametrics had earlier given vital insights on how for years, young Nigerians, mostly via social media, have called for the unit to be disbanded and rogue elements in the force brought to justice. Despite repeated promises by the government, they have failed to heed to their demands, triggering a new wave of protests that have now spread across the country.
What you should know
Anonymous is a popular decentralized global activist group that is popularly known for many cyberattacks against several governments, government agencies, corporations, and the Church of Scientology.
Why it matters
From demanding an end to SARS, prosecution of rogue police officers, and reforms; protesters are more emboldened, threatening to continue if all their demands are not met. The government is scrambling to contain a situation that is escalating and could dangerously metamorphose into violent clashes with authorities, leading to loss of lives and destruction of properties.
#EndSARS Twitter’s Jack Dorsey seeks support with Bitcoin
Twitter CEO, Jack Dorsey has joined in support of the #EndSARS protest.
Billionaire boss of the leading social media platform Twitter, and payments company Square, Jack Dorsey, has joined in support of the #EndSARS protest that has overtaken Nigeria.
A few hours ago, Dorsey took to his Twitter handle to solicit support for Nigerian protesters seeking an end to Police brutality and calling for reforms.
He tweeted, “Donate via Bitcoin to help #EndSARS,” while also retweeting a tweet from the Feminist Coalition informing people of the modes by which contributions can be made.
— jack (@jack) October 14, 2020
Twitter CEO has been a longstanding Bitcoin supporter. In the past, he has said Bitcoin is “probably the best” native currency of the internet due to it being “consensus-driven” and “built by everyone.”
Recall, some days ago, Square, Inc. (NYSE: SQ) led by Twitter’s Jack Dorsey on October 8th disclosed that it purchased, 4,709 bitcoins at an estimated worth of $50 million.
Square added it invested in cryptos because it saw it as a tool for economic enhancement via participation in the future of payment systems, which aligns with Square’s objectives.