{"id":21011,"date":"2019-12-16T12:47:55","date_gmt":"2019-12-16T11:47:55","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=21011"},"modified":"2019-12-16T12:47:55","modified_gmt":"2019-12-16T11:47:55","slug":"tiktok-owner-partners-with-chinese-media-outlet-to-launch-a-new-blockchain-company","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/tiktok-owner-partners-with-chinese-media-outlet-to-launch-a-new-blockchain-company\/","title":{"rendered":"TikTok owner partners with Chinese media outlet to launch a new blockchain company"},"content":{"rendered":"
ByteDance Inc.<\/strong> which owns the video social media application, TikTok, is now joining with a Chinese based company for developments in Blockchain technology, software development and artificial intelligence. The new company is Pengpai Audiovisual Technology Co<\/strong>.<\/p>\n The new firm includes the 51% owned by Shanghai DongFang Newspaper Co. and 49% owned by ByteDance Inc. who have invested at least 1.4 million US dollars into the corporation. The proceedings are said to have been held in Jinan City, the capital of Shandong Province, on the 10th of December. However, the official statement is yet to be issued by both of the joint companies on the project itself.<\/p>\n ByteDance is one of the fastest growing social media sites as TikTok has proved to be a successful investment at the moment. The site has gained a lot of popularity across the globe over time gathering a huge extent of downloads and views from users. Partnerships with media houses have also helped with the airing of the site.<\/p>\n <\/p>\nThe Shanghai DongFang Newspaper Co. Limited controls news website businesses within China.<\/strong><\/h2>\n