Short answer - Yes it is. But let's discuss what Democracy 2.0 means and how it can be different than what we have today. Here are my views of a Democracy 2.0. -
1. Issue based rather than people/party based
-- Today people vote and elect other people of a specific party who are given powers to take decisions on behalf of the people. Sometimes, one may not agree with the policies and decisions the elected representative take, even if the citizen voted for him. Secondly, ideologies (based on which some decisions are taken) have infinite shades of grey, it's never black or white. So rather than electing people, citizens must vote on a decision, a problem or a policy. In a true democracy, anyone should be allowed to formulate a policy which is put to vote in the city/state/country, and let there be referendum.
2. Replace physical Ballot paper with e-voting
-- This is a reform that is long overdue. In India, AADHAR identification system is a very good option that can be used to uniquely identify the voter and allow him/her to vote through an app. In the age of secure technology when we do financial transactions worth millions using phone and other digital mode, it is surprising that voting still requires a physical presence. IMO, its time a one-click voting is introduced. This is a necessary condition for the first point to happen. (You can;t expect people to go physically to vote on every policy decision or a project)
3. X-prize like challenges instead of government funded research or problem solving
-- Instead of government spending billions in research projects, it should switch to the mode of challenges to private entities - like Xprize