Recast Digital is promising high-definition and DVD-quality video delivered over the internet without the need for specialist software or workstation-class hardware.
The company claimed that its technology enables high-quality video to be delivered over the public internet, and that consumers require nothing more than a browser and Adobe's Flash plug-in to view the content.
Jonathan Toni, director at Recast Digital, suggested that the primary recipients for the technology would be content owners, such as advertising agencies or broadcasters, making it a potential rival to the BBC's hugely popular iPlayer service.
"We can cut content for people for a fee, so our primary business model is encoding for companies. For large broadcasters, we will consider licensing so they can encode content for themselves," he said.
Recast Digital's Flash-based RDV1 player senses the computer power and bandwidth available to the user, and adjusts the definition accordingly up to the 3Mbit/s required for full HD quality.
"We have re-engineered Flash using existing codecs so that it enables HD content very smoothly, even across the internet," Toni said. "However, if you're a user, as long as you have Flash 9 or above, it just works."
AI, VR and working on the morning commute - it's all to come
Development could pave the way for the next generation of rechargeable batteries
And Apple IS working on virtual reality headset
Indian bank falls victim to suspected cyber attack from North Korea's Lazarus Group