Web 3.0 is a different way of building applications. Web 3.0 will ultimately be seen as applications which are pieced together. There are a number of characteristics: the applications are relatively small, the data is in the cloud, the applications can run on any device, PC or mobile phone, the applications are very fast and they're very customizable. Furthermore, the applications are distributed virally: literally by social networks, by email. You won't go to the store and purchase them. Web 3.0 delivers a very different application model than we've ever seen in computing.

Web 2.0 is well documented and talked about. The power of the Net reached a critical mass, with capabilities that can be done on a network level. We are also seeing richer devices and richer ways of interacting with the network, not only in hardware like game consoles and mobile devices, but also in the software layer. You don't have to be a computer scientist to create a program. We are seeing that manifest in Web 2.0 and 3.0 is a great extension of that, a true communal medium, the distinction between professional, semi-professional and consumers will get blurred, creating a network effect of business and applications.

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