Definition:
The theory and practice of mass collaboration using electronic communications.
1: Peering -
The free sharing of materials over the internet, this is good news for businesses as it cuts distribution costs to almost zero however its bad news for people who want to protect their materials. Therefore it will change change economics beyond recognition. A contemporary media example for peering is the "Cut for Bieber" story. This involved the die hard Justin Bieber fans who when they found out Justin Bieber was smoking they would create images cutting themselves with the title "Cut for Bieber". This began to spread as more and more people did it.
2: Free Creativity -
This is a natural and positive outcome of the free market, i means that its hard to regulate. This is achieved by the materials being protected however it allows for materials to be remixed. A perfect example of this would be YouTube, a internet site that allows people to be creativity whether that be drawing to music etc. It gives them the chance to show the world not just a small society there product.
3: Democratized -
The media is democratised by peering, free creativity and we media. A example of this is Wikipedia, a free encyclopedia, therefore anyone can use it when ever they want to. It operates by none specialist editing the information that can be changed by any one at any time.
4: Thinking Globally -
The internet allows people from all over the world to communicate as they would gong to a "coffee shop". An example of this would be such as the Liverpool website where people can talk about their views on the football. This would more than likely be used by Liverpool fans specifically.
5: Perfect Storm -
This describes the idea that business know realise that in order to succeed internationally they need to use Web 2.0 tools. An example of this is the closure of Blockbuster because it it used the Web 2.0 tools then they would of been ale to compete with such companies as Amazon.
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