The PaperTab's design means it can easily be tossed around a desk like a magazine - and with a quick bend could also be read like one.
However, current prototypes cannot store much information and multiple PaperTabs must be used to work on a number of documents.
The director of Queen's University's Human Media Lab, Roel Vertegaal, said several PaperTabs were easier to work with than multiple documents.
"Within five to 10 years, most computers, from ultra-notebooks to tablets, will look and feel just like these sheets of printed colour paper."
Chris O'Donnell, of the Telecommunications Users Association of New Zealand, expected the technology would have a "huge impact" on areas such media and education, wiping out the distinction between page and screen.
Mr O'Donnell saw the PaperTab as a hurry-up to improve data storage and wireless networks.
"I'm not sure there is much New Zealand-specific application, but it will depend on the kind of application development environment that emerges.
"It's still got a long way to go before we've got a PaperTab in our hands."