Veoh, a new self-defined Internet Television Peercasting Network, is readying its archiving and video distribution infrastructure for a public launch in the coming months.

Veoh will be free of charge for both video producers as well as for viewers – anyone will be able to upload content and to use the service at no cost.

In addition, content owners will be able to decide whether or not they will want sell some of their quality clips for a fee. Veoh will act as an intermediator between producers and buyers facilitating financial transactions and content delivery while keeping a small commission on each purchase made.

To make the system profitable popular video clips will be used as a platform for the delivery of television-like ads which will be initially placed at the beginning and end of such shows.

Veoh positions itself as an additional online video clearinghouse open to all kinds of content while focusing exclusively on originally produced content and imposing strict editorial reviewing criteria for any new material to be published through it.

Here are more of my initial impressions as well as the recording of my good conversation with Dmitry Shapiro CEO of Veoh.