What is TapWav?

TapWav is a tool for converting Tap files into Windows PCM (.Wav) audio files.

What is a Tap file?

Tap file format was created by Per Håkan Sundell, author of CCS64, to be used with CCS64 True tape emulation. This format allows importing software from 8-bit computer cassette tapes preserving the original structure of recorded data. That media support was commonly used for software distribution on some old computers. Commodore 64 has been the most popular and actually Tap files are commonly associated to C64 emulation.
There are programs available for PC that, using a commercial PC to C2N connector or an high-quality audio sampling, can produce Tap files.

What is a Windows PCM (.Wav) audio file?

PCM coded audio is pure, uncompressed Pulse Code Modulation formatted data.

What is the advantage in using such tool?

Recording Wav files on cassette tapes, using an audio recorder, allows loading the software previously contained in the Tap file on any computer the software was designed for.
Think of it as a crossplatform/data sharing system between PC and C64.