Snap Interactive Announces Open-Platform Blockchain Development Initiative

Yesterday, SNAP Interactive, Inc announced that it is developing an open source, multi-media delivery platform.

The delivery platform will combine STVI’s live streaming video, voice and data routing capabilities with the enhanced security, scalability and cost effectiveness of blockchain technology.

STVI’s open delivery platform is expected to specialise in routing live and rich media content and powering applications which require real time data and video communications.

SNAP is also expected to host Backchannel, which is STVI’s secure video messaging app due to be launched this year.

It is expected to enable third-party developers to build the social networking, group collaboration, messaging and live video streaming apps that will use SNAP’s blockchain-based services.

The new platform will also enable the developer community to leverage the company’s 15 years of development history in live video delivery for decentralised media routing.

The Company plans to build the platform as a horizontal extension of the NEM blockchain protocol.

Alex Harrington, STVI’s CEO said: “We are excited to announce this platform initiative as the core of our blockchain strategy. By operating at the platform level as well as the app level of blockchain technology, we believe we can create the most enterprise value, because now we can partner with a large network of developers to create a live video and messaging ecosystem on blockchain.

“By creating an open source environment by which third parties can build upon, we not only position ourselves at the leading edge of this emergent technology but also enable partnerships and additional value creation opportunities.”

Read more here.