So, Web 2.0 has been the buzz word of the past few years within the circles of web gurus, but what does it mean? Well, in short, Web 2.0 represents a perceived shift in the focus of the web - a shift from content generated by webmasters to content generated by a community of users. Social Networking sites, Blogging and Wikis are all features of this new 'era' as they encourage interaction and allow visitors to a site to interact with it - leading towards questions such as 'is community the new king?'. While Web 2.0 suggests that it is a new version of the web, in reality its just a paradigm shift caused by new requirements and new capabilities - with few technical changes and certainly just the same basic infrastructure. Because of this, many question whether Web 2.0 is a justified title, or whether it is just a gimmick - either way the term has created its own popular sub culture. Despite the interaction connotations of the word, the originator of the term 'Tim O'Reilly said;

"Web 2.0 is the business revolution in the computer industry caused by the move to the internet as a platform, and an attempt to understand the rules for success on that new platform."

This so called 'definition', is far from conclusive, pointing towards a business oriented purpose behind the term, rather than the interactive features of the web's latest revolution. Given the scenario for web based companies when 'the bubble burst', perhaps Web 2.0 is part of a quest for the new wave of venture capital? As the definition suggests it is a business revolution which is only attempting to understand rules for success. Sites such as Flickr and Facebook are clearly success stories of the Web 2.0 generation, with the value placed on Facebook a clear indicator of the value advertisers will place on an established community site, and as such the value of building a community. Build a Web 2.0 site, and you can enjoy your retirement!

So, what is Web 2.0 all about? Community, Interaction, Social Software, Usability, Participation, Collaboration and Blogging are all keywords bounced around the term - often appearing in a 'tag cloud'! So, assuming you can find an exciting way to engage a community of users, your site could be Web 2.0, and so could be valuable - at least until this bubble bursts. After all, just because you have a community, doesn't mean they will buy something.