How The TikTok “Ban” Will Move America Onchain
This is Frank McCourt.
He’s the billionaire real estate mogul bidding to acquire TikTok's US business.
Here’s how he plans to move 170 million Americans on-chain and revolutionize social media.
TikTok’s Legal Showdown Has Begun
The so-called "TikTok ban" isn't really about prohibiting an app—it could rather force TikTok's Chinese parent company, ByteDance, to divest to a new US owner.
Deadline: January 19th.
This means the next few months are critical.
Enter Frank McCourt
Former owner of the LA Dodgers and CEO of McCourt Global, McCourt is stepping up as a leading prospective buyer. But he doesn't just want to own TikTok—he wants to transform the internet.
Project Liberty: Rebuilding the Internet
In 2022, McCourt founded Project Liberty, committing $150 million to build a new internet layer that gives users control over their personal data.
"Tech is such a big important part of our lives. It should be optimized for people, not for time online, ad revenue, or rage," McCourt told TIME.
A Vision for Decentralization
Project Liberty aims to reduce toxicity and make the internet a true space for civic discussion.
By giving users ownership of their data, social platforms would serve users—not advertisers.
The DSNP: A New Internet Protocol
The Decentralized Social Networking Protocol (DSNP) is an open-source protocol designed to support a shared, decentralized social graph.
"When it happens, it's going to happen very quickly," McCourt says.
Not Just Another Billionaire's Project
Unlike others, McCourt isn't positioning himself as the sole savior. He emphasizes a massive communal effort, involving technologists, policy experts, and social scientists.
"There's no delusion here that these issues can be solved by any one person."
Rearchitecting TikTok
McCourt plans to reengineer TikTok to put users in control of their digital identities and data.
"We can preserve—and enhance—the TikTok experience by giving individuals and creators on the platform the value and control they deserve," he says.
Building a Consortium
He's in talks with institutions holding trillions of dollars.
While he hasn't named them, this could involve tech giants eager to challenge Meta's dominance such as Google, Microsoft, Amazon, or Apple.
"We're now in conversations with institutions that have trillions of dollars on their balance sheets. They're very interested in this outcome."
Support from Thought Leaders
Jonathan Haidt, renowned social psychologist and author of "The Anxious Generation," backs McCourt's vision.
"We're at a tipping point... McCourt wants [technology] to evolve in ways that are far less harmful to children and teens than it is today."
Choosing Polkadot for DSNP
After a robust analysis of various blockchain infrastructure options, Project Liberty has partnered with Polkadot, a blockchain framework conceived by Ethereum co-founder Gavin Wood.
"We looked deeply at over 30 different projects and concluded Polkadot is particularly adaptable for social networking," says Woodham of Project Liberty.
The Stakes Are High
The legal battle over TikTok could reach the Supreme Court. Given national security concerns, many analysts believe a divestiture is the most likely outcome.
What Does This Mean for You?
If McCourt succeeds, 170 million Americans could experience a new kind of social media—decentralized, user-focused, and free from invasive data practices. But will the platform remain valuable without the existing algorithm, given TikTok has said they would not allow it to be shared with a US company?