I like this video because in less than five minutes provides a overall explanation about some of the possibilities of this new stage of the web and also new issues to consider.
The web 2.0 is a term coined - according to wikipedia - by O'Reilly Media in 2003. The web 2.o refers to the evolution of the web not in its technology but about how the users use it, interact with each other and build knowledge together. Web 2.0 is more participative and less hierarchical.
Thanks to Antonia Chan for pointing out the video in this sea of information called web, whatever version we are in.