Mind Blowing Productive Online Service: Courtesy of Google

Google has launched a new (non-revenue generating tool) called Google Wave. I was clued to it in fact, from Zoho.
Google Wave is not something you can try out directly from Google, yet, but Google’s hope is that developers will use Google Wave to create awesome applications.
So what does Google Wave do?
According to Google: In Google Wave you create a wave and add people to it. Everyone on your wave can use richly formatted text, photos, gadgets, and even feeds from other sources on the web. They can insert a reply or edit the wave directly. It’s concurrent rich-text editing, where you see on your screen nearly instantly what your fellow collaborators are typing in your wave. That means Google Wave is just as well suited for quick messages as for persistent content — it allows for both collaboration and communication. You can also use “playback” to rewind the wave and see how it evolved.
Google Wave sounds a bit complicated to me, but it looks like a cross between being able to chat, tweet, edit documents, share photos and other communication and collaboration. You get a taste of this in Google Docs, wherein you can see who is online looking at a document and chat with them.
Where do Zoho and other hosted application providers come in?
You can already collaborate across Zoho services, with Zoho’s own chat tool, but according to Zoho when Google Docs and Zoho Writer both implement the Wave protocol, it would be possible for a user to collaborate on a document across these services.
Imagine a day when you can use Quickboooks Online, collaborate on a Google Document and use Zoho CRM all within one connected interface. I’m sure this is a hacker’s paradise, but it’s also a communication nirvana for the busy, on the way, intensely budgeted business owner. Box.net, another online computing leader will be able to further extend its online storage solutions using the Google Wave protocol. Imagine using an online photo editing tool and being able to insert a photo into OpenOffice, No need to download the photo first to your computer and then upload it again.