Wikipedia defines the Semantic Web as the following:
The semantic web is an evolving extension of the World Wide Web in which web content can be expressed not only in natural language, but also in a form that can be understood, interpreted and used by software agents, thus permitting them to find, share and integrate information more easily.[1] It derives from W3C director Tim Berners-Lee's vision of the Web as a universal medium for data, information, and knowledge exchange.
At its core, the semantic web comprises a philosophy,[2] a set of design principles,[3] collaborative working groups, and a variety of enabling technologies. Some elements of the semantic web are expressed as prospective future possibilities that have yet to be implemented or realized.[4] Other elements of the semantic web are expressed in formal specifications.[5] Some of these include Resource Description Framework (RDF), a variety of data interchange formats (e.g RDF/XML, N3, Turtle, N-Triples), and notations such as RDF Schema (RDFS) and the Web Ontology Language (OWL). All of which are intended to formally describe concepts, terms, and relationships within a given knowledge domain.
Basically, I think users in a tagging,voting, user generated world will create awesome content that beats the content returned by a search algorithm like Google's. If one million people are building a website in real time on a specific topic, how good will that website be compared to what shows in Google's results right now. We the people are the creators of Web 3.0 and the best content on the planet, the only question that remains is if we will be smart enough to get paid for it.
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