BitTorrent Inc has announced plans to launch a new social media platform for live streaming. It will be called BitTorrent Live and -- at least initially -- it will be centralized rather than decentralized, meaning that it is not based on the BitTorrent protocol or other P2P technology.
The first beta version is expected to launch in the coming quarter, and it will compete with the likes of Facebook Live. BitTorrent Live will enable users to stream content to mobile devices, or broadcast live, and will include social media elements.
As reported by TorrentFreak, the aim of the new platform is to create a "new content experience" that can be enjoyed from anywhere with an internet connection. There is scope for monetization for broadcasters, it seems. The company says: "BitTorrent Live also will incorporate blockchain technology that returns privacy and ownership to users while also enabling cryptocurrency to be used as a new payment option".
Writing about the new service, BitTorrent says:
With BitTorrent Live you can create live video content, connect with people who share the same passions, earn money by expressing your creativity and connect with friends all around the world.
We plan to integrate blockchain technology into the core of BitTorrent Live and return privacy and ownership while enabling a new payment option serving millions of users.
TorrentFreak quotes BitTorrent CEO Justin Sun:
Imagine chatting with your favorite athlete, becoming immersed in a music festival, or meeting new friends to share your passions -- all by simply firing up the BitTorrent Live app. By using our decentralized technology, we aim to create a boundary-free internet but also be at the forefront of a new content experience.
Early versions of the app will be entirely live, but BitTorrent says it is looking to change this. "The team is already looking at ways to integrate decentralized technology into the core of the app. We are also looking at ways to archive the content".
