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Google announced today a new, experimental idea aiming to reshape the future of communication on the web. It’s called Wave, and if you believe its Google, it’s “what email would look like if it were invented today.” Oh ya… and the whole thing is Open Source; the protocols will be available to anyone. Wave is about jazzing up real-time communication on the web.

What is a wave?

A wave is equal parts conversation and document. People can communicate and work together with richly formatted text, photos, videos, maps, and more.

A wave is shared. Any participant can reply anywhere in the message, edit the content and add participants at any point in the process. Then playback lets anyone rewind the wave to see who said what and when.

A wave is live. With live transmission as you type, participants on a wave can have faster conversations, see edits and interact with extensions in real-time.

According to Google Wave will allow:

• Real-time collaboration – Concurrency control technology lets all people on a wave edit rich media at the same time
• Natural language tools – Server-based models provide contextual suggestions and spelling correction
• Extensible – Embed waves in other sites or add live social gadgets, thanks to Google Wave APIs.

If you have an hour and twenty minutes to burn you can watch the entire thing explained by the folks at Google.

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