Cryptocurrency exchange Bitfinex and Tether introduced the peer-to-peer communication application Keet. According to the information transferred; Developed in cooperation with a company called Hypercore, the Keet application will enable video, video conversation, message and file communication.

The alpha version of the project is currently available for download on the website. Also, the company said that they plan to launch the mobile app by November of this year.

Keet2

In addition, Bitfinex and Tether said in a joint statement that Keet will allow users to schedule audio and video calls, send text chats and share files for free. The Keet app is powered by a technology called DHT, which allows users to find and connect to each other using only cryptographic key pairs upon authorization.

Keet 1

Bitfinex, Tether and Hypercore have been working on this technology for five years. Paolo Ardoino, CTO of both companies and now chief strategy officer of Holepunch, said in a statement:

   “What we are working on is to create a platform that will allow users to access unstoppable apps and provide freedom of speech.

Freedom of expression in many parts of the world is much more limited than we are used to in the US or UK. And freedom of speech is like not just sitting in one place and saying what you want, but always sharing and talking to whoever you want without worrying that big tech companies are listening to you or using your data. Companies collect your data and potentially either monetize your data or use it against you."

Paolo Ardoino Tether

Ardoino noted that, in addition to putting a lot of effort into the project, Bitfinex and Tether have invested nearly $10 million to build Holepunch and Keet. He added that the two companies are open to investing another $50 million to $100 million in the future as they develop more P2P applications.

The Holepunch protocol is currently closed source and plans to switch to open source in December. “Once it is open source, anyone can develop applications on the protocol and earn money,” Ardoino added. Holepunch will also integrate the Lightning Network protocol and Tether's issued stablecoin (USDT) to support a default payment system.