NFC technology is useful as a wireless means to, as Samsung puts it, "transmit encrypted information between mobile devices or between mobile devices and other stationary NFC-enabled devices such as kiosks," or as Mr. Schmidt showed, any kind of object with an NFC chip inside.
NFC technology has been touted as the future of electronic payment, as it operates over a very short range (about 4 inches) and may have a future as the replacement to credit cards, fares, automatic opening of programs, and retrieval of information.
Samsung specifically mentions that they anticipate mass production of their NFC chips to being in Q1 2011. This is especially interesting, as individuals who have been paying attention to the Nexus S rumors know that the phone is supposed to release with an NFC chip inside.
Whether Samsung will be using their own chip inside the Nexus S is not yet clear. It is also not yet clear if production of the chip for the Nexus S qualifies as "mass production", but I'm starting to get the feeling that we'll be waiting on the Nexus S for at least another month at this point.
Image from Engadget
Source: Business Wire