TikTok COO Says Blockchain As An ‘Incredible Innovation’, Talks About Future Change

After stepping down as the TikTok COO, V. Pappas praises the importance of blockchain tech. Check out the latest reports below.

The Chief Operating Officer of TikTok, V Pappas, has announced their resignation in an internal memo to employees, which was later shared on Twitter.

Pappas has expressed their desire to pursue entrepreneurial ventures after leaving the company. In the farewell message, Pappas also acknowledged the advancements in various technologies, including blockchain.

“Given all the successes reached at TikTok, I finally feel the time is right to move on and refocus on my entrepreneurial passions. Few had imagined what the last five years would look like and with all the incredible innovation happening now with generative AI, robotics, renewable energy, genomics, blockchain and the IoT, clearly the future will again look much different,” Pappas wrote.

TikTok, while mainly recognized for its viral dances and short-form videos, has also explored web3 projects in recent years. In September 2021, the platform launched an NFT collection featuring videos from its top creators.

Additionally, in mid-August 2021, TikTok integrated Audius, a blockchain-based music platform.

Mastercard, a leading payments processing company, is taking a step forward in the world of digital assets by filing a trademark application for several crypto blockchain tools.

The application, submitted to the U.S. Patent and Trademark Office, indicates that Mastercard aims to develop software for crypto transactions and establish connections between virtual asset service providers.

The trademark filing states the following:

“MASTERCARD CRYPTO CREDENTIAL trademark registration is intended to cover the categories of downloadable application programming interface (API) software for verifying interactions using blockchain networks; downloadable application programming interface (API) software used in processing or exchange of cryptocurrencies and blockchain transactions, namely, identity management and authentication tools.”

The notes continued and listed the following: “downloadable application programming interface (API) software for connecting virtual asset service providers (VASPs) to other VASPs financial institutions to facilitate crypto transactions; downloadable application programming interface (API) software for facilitating exchange of consumer metadata between financial institutions for compliance purposes.”