After a limited short run that allowed only selected celebs & US users, Facebook’s live video streaming feature is expanding to countries outside the US. This feature allows users to broadcast video through the facebook app on real time. This is similar to the way Periscope (Twitter owned live streaming app) works.
So far the feature is exclusive to iOS, which means you can access it on your iphone. Facebook hasn’t revealed when it would be available on Android. Considering the fact that 3 billion videos are accessed everyday on Facebook, this won’t be delayed much.