One such project is called NewsFlash, and uses high-frequency red and green light to transmit data to the built-in camera on a receiving device -- in this case Samsung's Epic 4G.
These were the direct ancestors of the "co-location" and "direct data feeds" that have enabled high-frequency traders to get first crack at market prices on today's stock exchanges.
As latency has been driven into the microsecond range for highfrequency trading (HFT), firms are looking for either new geographies or new information to supplement market data.