This one has a few layers to it. At the top is PeerStream. It’s a new name, but an established company. You may have come across its PalTalk messaging and video app.
Prior to Telegram announcing something vague about a blockchain, encrypted messaging app, the folks at PeerStream had already shared a concept called Backchannel.
Backchannel is a video-enabled, 1:1 and group messaging service that leverages crypto identity and a decentralized architecture to “promote free speech and serve privacy-minded end users.”
Backchannel is currently under development with an initial release planned later this year.
So we go from PeerStream to Backchannel, but there’s more: Backchannel is being built on the Proxima-X blockchain.
ProximaX is a next-generation blockchain that enables off-chain, p2p service integrations. Proxima-X is optimized for messaging, storage, and streaming media. Its services enable measuring, validating and incentivizing the decentralized workforce to prosper, grow, and scale. ProximaX is backed by Lon Wong a founding member of the NEM crypto-coin that powers ProximaX. NEM (XEM) is a top 20 crypto-currency in terms of market cap and optimized for smart assets.
Now if that didn’t confuse you, perhaps this conversation will: