Google Wave combines e-mail, instant messaging, social networking, browsing, open-sourcing and project management into one integrated communications tool. Its concept: to unify communication on the Web.

Here is a video from Google Wave:

According to Mashable, who was able to test the new platform, Google Wave’s interface looks like an incredibly enhanced version of G-mail. The chat function is real-time, character-by-character that allows you to add and reply anywhere within a conversation (wave). Instead of the traditional way of attaching documents to e-mails, you can simply drag and drop a file from your desktop to Google Wave, where anyone that is invited can see it.

Google Wave also allows you to run outside applications (APIs) – Facebook, Twitter or even video games – inside of Google Wave, allowing it to function as an “all-in-one” communication platform tool. You can also embed these threaded conversations (Waves) onto a Web site or blog, allowing you to share real-time conversations with the rest of the internet. Users can also recreate/rebrand their own versions of Google Wave, as the system is completely open-sourced.