Web 1.0 was dial-up, 50K average bandwidth, Web 2.0 is an average 1 megabit of bandwidth and Web 3.0 will be 10 megabits of bandwidth all the time, which will be the full video Web, and that will feel like Web 3.0.
Recently, whenever people ask me "What's Web 3.0 ?" I've been saying that it's when we apply all the principles we're learning about aggregating human-generated data and turning it into collective intelligence, and apply that to sensor-generated (machine-generated) data.
Web 3.0 will ultimately be seen as applications that 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 are very customizable. And further more the applications are distributed by virus…essentially virally. Literally by social networks or by email. You won’t go to the store and purchase them.
Today's Web has terabytes of information available to humans, but hidden from computers. It is a paradox that information is stuck inside HTML pages, formatted in esoteric ways that are difficult for machines to process. The so called Web 3.0 , which is likely to be a pre-cursor of the real semantic web, is going to change this. What we mean by 'Web 3.0' is that major web sites are going to be transformed into web services - and will effectively expose their information to the world.
People keep asking what Web 3.0 is. I think maybe when you've got an overlay of scalable vector graphics - everything rippling and folding and looking misty - on Web 2.0 and access to a semantic Web integrated across a huge space of data, you'll have access to an unbelievable data resource.