Quantum Paper is the overarching name for a new, unified design framework intended to make experiences consistent across all platforms. According to information available to us, it represents Google’s effort to both create (with Google apps) and encourage consistent, beautiful design that delights across all platforms. Quantum Paper is a hugely ambitious project, looking to unify and codify paradigms for visual, motion, and interaction design across all platforms, including web, Android, and iOS.
Google I/O is going to be very, very interesting.
It seems to be chrome exclusive, and thus I am very unlikely to ever try it.