Google has a vision for Google TV which goes beyond just being able to search both online and within your cable or satellite providers hardware for what you want to watch. The search giant is also hoping that Google TV will become a social experience where friends and family can gather around in the living room and share their favorite videos, photos and websites. Most people have shared a YouTube video in an email or on a friend’s Facebook page at one time or another , which will be a breeze on Google TV thanks to the Android Market. However, a new web application called Dragontape, which allows users to drag and drop their favorite online content into sharable playlists, is poised to take sharing video on web-connected devices like Google TV to the next level.

There’s a lot of great stuff on YouTube, enough to lose yourself for hours watching related and unrelated content. The recently announced YouTube Leanback solves the problem of having to choose between related videos after each one is complete, but what if you want to assemble your own string of related videos for your own personal use or to share with friends and family?

That’s where Dragontape comes in. The application is still in beta and is lacking some major features like embedding and the ability to search multiple video sources (YouTube is currently the only option), but there are several nice features already built in, including a variety of social media options for sharing and the ability to retrieve and edit past projects. However, the company has announced future support for Vimeo, Dailymotion, Metacafe, and other sites.

The interface seems quite stable and easy to navigate, although there were several errors and crashes during testing. At this time, the application is run entirely in Flash, but IE and HTML 5 support is in the works. Here is the link to the test playlist assembled using various Google TV clips

Overall, this application has some great potential if certain key elements like the ability to embed are added later on. The social aspects are already in place, and this and other applications like it are exactly what Google hopes will be utilized by Google TV users. We look forward to seeing the finished product, and hopefully next time we visit Dragontape we can embed the final result for you.