Can you please suggest any software/commands that would restream HTTP://iptvservice.com/channel1.m3u8 to the local network where it can be accessible with the link HTTP://127.0.0.1/channel1.m3u8?
It sounds like you want devices on your local network to be able to access a server on the internet, presumably in a controlled manner so they can't access all internet addresses.
The usual way to do this is to use a gateway between the private local network and the internet - this is much more straightforward that replicating a streaming server locally.
Your gateway can perform firewall functions, restricting access to a specific set of internet addresses, or even a single Internet address as in your example, and NAT (Network Address Translation) to map the local address to an address that the server on the internet will recognise and be able to respond to.
Most basic internet routers will provide some simple support for this functionality, but you can also design a solution using separate routers, firewalls and NAT's if your scale requires it.
If the content being streamed is protected by the provider and requires individual credentials, this should work transparently for you also - i.e. each individual user, providing they have credentials from the content provider (i.e. they are a registered user), will be able to user their own account login to access the content.
It sounds like you want devices on your local network to be able to access a server on the internet, presumably in a controlled manner so they can't access all internet addresses.
The usual way to do this is to use a gateway between the private local network and the internet - this is much more straightforward that replicating a streaming server locally.
Your gateway can perform firewall functions, restricting access to a specific set of internet addresses, or even a single Internet address as in your example, and NAT (Network Address Translation) to map the local address to an address that the server on the internet will recognise and be able to respond to.
Most basic internet routers will provide some simple support for this functionality, but you can also design a solution using separate routers, firewalls and NAT's if your scale requires it.
If the content being streamed is protected by the provider and requires individual credentials, this should work transparently for you also - i.e. each individual user, providing they have credentials from the content provider (i.e. they are a registered user), will be able to user their own account login to access the content.