Citation in one web document to another is a simple matter of embedding a link. The problem is that links have a relatively short half life as compared to physical media (though physical media has its own issues in terms of availability).
But if all digital content (including fluctuating web pages) was archived permanently online (storage is cheap), then you could point all of your digital references there, they would last 'forever', and everybody would be free to dereference your references. If you wanted your intellectual product to be reference-able, you would make sure it got into that archive. Physical media could include references to digital media, and digital representations of physical media could be added to the archive along with their page numbers so that they can be referenced digitally. And generations of link-bots and librarians could add new links and have those links be archived.
Google's certainly taking a crack at doing this sort of thing. But it seems to me anything less than 'everything permanently accessible in the cloud' is a half-measure.
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