Okay, so the title is a bit hyperbolic. It's not entirely unfair, though. As I'll show in this post, Wave has the potential to bring almost everything you do on the web together in one slick, harmonious, easy-to-manage system. Impossible? Hardly. Impressive? Certainly. Pipe dream? Hmm...
Remember that I said a wave is a shared object? That object is an XML file, an interoperable standard that does All Sorts of Neat Stuff, from RSS feeds to those Office 2007 files your colleagues from Head Office send you which you still can't bloody open. With a little bit of wizardry that isn't nearly as complicate as you might imagine, it's possible to embed a wave in a web page.
Before I go into how this works and why it's awesome, just go with it, okay?
Your Wave account is outfitted with that Little Bit of Wizardry, which is a magical amulet that connects your mind to the All-River, and connects your Wave account with your blog. You fire up a new wave. You whisper the incantation to your magical amulet. The power of the All-River flows through your veins and... your blog has just been updated with the wave you just wrote.
You notice a typo. Without thinking, you hit backspace and correct it. Do you need to click anything? Confirm? Re-publish? No. It's done. That wave is now a post on your blog, and if I were reading it I'd have noticed, out of the corner of my eye, that the word 'niggardly' is now spelled correctly instead of being the innocent impetus for an endless avalanche of accusations of racism.
But wait, it gets cooler.
That Wave is sitting pretty in your Sent box, without a care in the world, then suddenly pops back into your inbox to let you know that there's been a comment to your blog post. In fact, the comment someone posted is right there, at the bottom of the wave. Is there a handy link to take you to your blog so you can reply to that comment? Nuh uh. You reply right then and there.
By embedding a wave it becomes a broadcast, just like a blog post, but it's still a wave. That's what I mean when I say that this brilliant bit of insight and engineering smoothly allows you to transition between different modes of communication. You're in your wave account, writing and replying just like you would e-mail. I'm on your blog, reading your posts and replying just as I would with any other webpage.
Since Wave is also a socket you can plug stuff into it. Third-party extensions are being written by the droves, to let you embed your waves in your WordPress or Drupal blog, but also to read your Twitter timeline. That one's really cool; you drop that little plug-in into a new wave, sign in with Twitter's credentials and you see all the most recent tweets.
And you can reply to them.
The recipient will see a reply to their tweet, but on your screen, it's like the timeline is just one long wave with lots of messages you can reply to. The twitter plug-in serves as an ambassador between your wave account and your twitter account, translating back and forth without you having to worry about a thing.
The plug-ins come in two flavors, namely extensions and robots. Extensions are a lot like Facebook apps or Firefox plug-ins and let you embed other stuff in your waves, anything from a Google Map to a game of chess to, down the road, a Skype webcam chat. Robots are 'virtual participants' in the wave and scramble diligently in the background to do anything from fixing your racist typos to translating your wave to a blog or twitter post to translating your every written word into Hebrew. The sky's the limit.