Possessor of major social media app TikTok, ByteDance, has launched a articulation venture with state-owned Chinese media group and ThePaper.cn operator Shanghai Dongfang Newspaper to develop business models that include blockchain and artificial intelligence (AI), Bloomberg reported on Dec. 14.

TikTok may utilise blockchain and AI to fight Deepfakes

The articulation venture was launched in the upper-case letter of eastern Red china'south Shandong province, Jinan, on Dec. 10 with a registered capital of 10 meg yuan ($1.43 million). ByteDance owns 49% of the venture while the rest is owned past the Chinese media grouping.

TikTok sees 500 million monthly active users and is currently the 2nd near downloaded app in the Apple tree App Shop in the U.s.a.. The app's short video feed is completely managed by a purpose-congenital AI to predict and deliver content that the user will likely prefer.

While it'south non nonetheless articulate how ByteDance and TikTok could benefit from blockchain technology, ane possible use-instance could be for digital media data verification. For case, U.S. police force enforcement Axon Enterprise aims to test blockchain for its body cameras to fight Deepfake AI-generated videos.

China leads the way in blockchain

As recent reports suggest, blockchain technology is apace maturing and seeing broad adoption in China.

Earlier this month, the Depository financial institution of Prc has reportedly issued xx billion yuan ($2.eight billion) in blockchain-based special financial bonds for small-scale and micro-enterprises. Furthermore, People's republic of china is also expected to conduct the first real-world test of its central banking company digital currency in the near future.

As Cointelegraph reported in belatedly November, the European Commission and European Investment Fund launched a new investment initiative for AI and blockchain in Europe.