New way of communicating with friends, family and business associates. Evidently, Google has once again shown us how innovative and forward thinking their team is. 

I personally think that this new piece of software has huge potential specially as it is released as an open source platform. While it looks and feels like email, it's actually unique hybrid of realtime chat and messaging board communication. 

Somebody said "If Google Wave can cover all my social media feeds, emails and messages into one platform and makes my daily life more manageable than it will prove it's worth." In many ways Google Wave is a natural evolution of the rich-web applications that most people find very appealing. Wave is Google’s attempt to re-examine the way we communicate and collaborate by adding those rich-web elements.

In terms of data security, since Wave's code is based on APIs, companies that want to bring Wave in-house without putting all that corporate data on the Internet or in Google's servers could set up their own private Wave networks, witch makes internal collaboration safe and secure.