The purpose of this paper is twofold: On the one hand, we propose a fast wavelet-based video codec which is implemented into a real-time video conferencing tool. The proposed codec uses temporal frame difference coding, a computationally low-complex 5/3 tap wavelet transform, and a fast entropy coding scheme based on Golomb-Rice codes. On the other hand, we present an application of the video conferencing tool in a serverless peer-to-peer IP-based communication framework. For mobile communication we propose a simple, ready-to-use location scheme for video conference users in a global network.