ByteDance

• The "China Metaverse Market Intelligence and Future Growth Dynamics Databook - 100+ KPIs Covering Market Size by Sector X Use cases X Technology, Business and Consumer Spend, NFT Spend - Q1 2023" report has been added to ResearchAndMarkets.com's offering.
• Metaverse industry in China is expected to grow by 39.5% on an annual basis to reach US$1,06,102.8 million in 2023.
• The metaverse industry has experienced significant growth in China during Q3 and Q4 of 2022.
• The potential metaverse market growth has also caught the eye of leading tech giants in China.

• SHANGHAI, April 28, 2023 /PRNewswire/ -- The Global Unicorn CEO Conference 2023 and Unicorn Awards Dinner, hosted in Guangzhou on April 18th , saw Soul App join the Hurun Research Institute's Global Unicorn Index 2023, alongside ByteDance, Ant Group and OpenAI.
• The rise of unicorns has transformed the way people live and consume, and their relentless innovation has fueled robust, sustainable industry development.
• Among those unicorns on the list, social network platform Soul App has consistently displayed high growth potential in recent years, garnering widespread market interest.
• As unicorns attract deep-pocket capital and epitomize market vibrance, SOUL's appearance on the Global Unicorn Index underscores the strong momentum and bright prospects of China's social network industry.

• The rationale was based on security fears and, in particular, the risk the platform will be used for foreign interference operations by China.
• TikTok is a video-sharing platform operated by ByteDance, a company headquartered in Beijing, but incorporated in the Cayman Islands.
• Like similar sites, TikTok’s privacy policy indicates an expansive approach to the collection and use of personal information.

The problem with focusing on only one app

• Given the ban only affects government devices, couldn’t the same people be susceptible to foreign interference through their use of TikTok on personal devices?
• What about other apps, such as Facebook, that collect significant amounts of user data – are these more secure than TikTok?
• In other words, the problem of digital security and foreign interference is bigger than just one app or the use of government devices.

A new, more effective cybersecurity strategy

• A discussion paper on the new strategy was released earlier this year, with submissions due this week.
• This process will hopefully result in a more holistic strategy on how to manage the cybersecurity and foreign interference concerns that led to the TikTok ban.


This kind of strategic approach, particularly on the education side, would give Australians better tools to arm themselves against foreign interference online, which as Home Affairs emphasises, is the “best defence” available.

A stronger privacy act could help, too

• Another relevant policy development is the government’s review of the Privacy Act, which is the primary Australian law on data protection.
• Changing the rules about how data is collected and used by platforms could provide less fodder for those running foreign interference operations.

What is needed is a strategy, not tactics

• Beyond Australia, at the United Nations level, some questions about whether international law can be applied to cyberspace have been resolved, while others remain open.
• Ultimately, what is needed is a strategy, rather than tactics, and better coordination of relevant policies across government.
• The TikTok example also highlights a truism that we shouldn’t think in terms of privacy or security, but rather privacy and security.

• In 2021, Battery Resourcers, a battery recycling and manufacturing startup, acquired Easymile's battery management system technology.
• The acquisition allows Battery Resourcers to enhance its battery recycling capabilities and develop more sustainable battery solutions.
• Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more.
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