It looks like Qik might just have a worthy adversary looming in the horizon if this video is proven to be legit and true.

Ustream.tv is apparently working on a mobile video streaming app which is said to be much faster than Qik since it has found a way to reduce bandwidth usage while streaming videos. I’m not too sure how that will affect video quality, but if the demo video being shown below is any indication of the things to come, I’d say we’ve got a lot to look forward to when they roll out the final version. Let’s just hope that it’ll perform as good in a real-world scenario as it does in the video.

The bad news is that they have yet to disclose any time line as to when this new mobile video streaming app is due or on what platforms it will work on. Considering that it’s probably still in a pre-released version, we’ll most likely hear from them soon when they have a beta-version ready for public consumption.

[source]