USB 4 is a just a rebranded version of the Thunderbolt 3 interface that we're seeing since the last three years.
As of Thunderbolt 3, Intel has made the spec available royalty free, and the USB Promoter Group is pouncing by officially injecting it into USB4. However, there is a bit of a sour note becuase that's exactly the same speed as Thunderbolt 3, meaning that there will be no enhancement for current Thunderbolt 3 devotees on a standard that will be several years old already. At this moment, there is another new member and it's not by Samsung, but rather the standard organization USB-IF for announcing USB 4 (not 4.0, just 4) and get this, it's able to reach up to 40Gbps (dual-channel) in transferring speed! Thunderbolt 3 passes data across four lanes of PCIe 3.0, while also supplying eight lanes of DisplayPort 1.2 that supports up to two 4K displays at 60 Hz. This announcement means future devices and computers can use USB4 to shove files and other information between each other much faster, typically via physical USB-C connectors.
At present, the entire version of the USB 4 standard is still being revised.
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USB 4 is coming, and it's gonna make your gadgets transfer content a whole lot faster. So your new laptop or desktop PC might not feature a Thunderbolt 3 port after all, unless it's a premium model. The USB4 solution specifically tailors bus operation to further enhance this experience by optimizing the blend of data and display over a single connection and enabling the further doubling of performance.. "This, in combination with the integration of Thunderbolt 3 into upcoming Intel processors is a win-win for the industry and consumers".
This does NOT, however, mean that all USB Type-C cables will offer 20GB speeds.
Over 50 companies are now involved in the standard, especially those behind the USB Promoter Group - Apple, HP, Intel, Microsoft, ST Microelectoronics and Texas Instruments. "Even as the USB4 specification introduces a new underlying protocol, compatibility with existing USB 3.2, USB 2.0 and Thunderbolt 3 hosts and devices is supported; the resulting connection scales to the best mutual capability of the devices being connected".
With that said, you shouldn't expect any USB4 devices until 2020 at the earliest. And those cables will need to be USB-C cables, so this will hasten the death of the old-style USB-A interface. In the case of USB4, it will be backwards compatible as far back as USB 2.0.