SNAP Interactive Changes to ‘PeerStream’ to Reflect Blockchain Integration

SNAP Interactive, Inc, developer of decentralised technologies that power multimedia social apps and business communication solutions, has announced a change of name.

The company will rebrand to PeerStream, Inc in a move that seeks to reflect a greater focus on decentralised technology.

Subject to regulator approval, it will begin trading under (OTCQB: PEER) on the 12th of March 2018.

The firm says: “The rebranding accompanies a significant investment in the Company’s platform for live multimedia streaming and communications to incorporate decentralization technology.

“This previously announced initiative, now called PeerStream Protocol (“PSP”), leverages blockchain technology to support a peer-to-peer computing network for media routing.

“While the Company’s current platform today powers our existing portfolio of applications, going forward it will be enhanced with PSP and made available to third party developers as well.”

Further to this, PeerStream will also provide PeerStream Business Solutions – a range of support services for other multimedia companies interested in decentralisation.

CEO Alex Harrington commented: “We are very excited to announce the corporate rebranding to PeerStream, which we believe accurately captures both our history and our new broader mandate.

“Importantly, the new identity acknowledges how important decentralized peer computing will be in our future, both in the launch of PSP and our business services offerings.

“We are firmly embracing blockchain to support our core business mission of multimedia streaming and delivery, while launching a potential new source of revenue in supporting blockchain adoption for the communications needs of future corporate clients.”

Visit the website here.