Under the principles laid out in the document, which Berners-Lee calls a "Magna Carta for the web", governments must ensure that its citizens have access to all of the internet, all of the time, and that their privacy is respected so they can be online "freely, safely and without fear".
Berners-Lee said the full terms of the contract would be agreed in the coming months, with the objective to finalize it in May 2019 - the 50/50 moment when more than half of the world's population will be online for the first time.
Google's part in the plan backs the commitment with a $1 million Google.org grant to the World Wide Web Foundation so it can continue to drive forward its important work #ForTheWeb. It's already amassed a wealth of supporters, including Google, Facebook, Innovation Award victor and Young Global Leader honoree Mariéme Jamme, Virgin Group founder Sir Richard Branson, and many more.
But what really got people talking was the first talk from Sir Tim Berners-Lee, the man who invented the web nearly thirty years ago. We need a new Contract for the Web, with clear and tough responsibilities for those who have the power to make it better.
"Those of us who are online are seeing our rights and freedoms threatened", he said in a statement announcing the project, which was organized by his nonprofit the World Wide Web Foundation.
Ensure everyone can connect to the internet so that anyone, no matter who they are or where they live, can participate actively online.
Make the internet affordable and accessible to everyoneSo that no one is excluded from using and shaping the web. "If you are a social networking company you make sure that (.) you allow people to control their data".
Berners-Lee told the opening of the Europe's largest technology conference that everyone had assumed his breakthrough in 1989, that connected humanity to technology, would lead to good things - and it had for a while. Each participant has the responsibility of creating content that is "rich and relevant".
Build strong communities that respect civil discourse and human dignitySo that everyone feels safe and welcome online.
So the web remains open and a global public resource for people everywhere, now and in the future.
"The genie may seem to have come out of the bottle, but the internet has surprised us many times", he added.
Recent research has found that over 2 billion people live in places where internet is prohibitively expensive to access. However, as the Web increases in power, this is having the unintended effect of increasing the digital divide, Berners-Lee argued.
Those that do fork-out a premium for prioritised traffic, in this scenario, contribute to an ecosystem that creates unfair advantages and reduced consumer power and choice - putting small businesses and start-ups at the mercy of established companies with bigger pockets.