UK Prime Minister David Cameron and German Chancellor Angela Merkel have announced a joint partnership to help create the next major wireless spectrum. Predictably, it's called 5G and it is ridiculously fast compared to the 4G connections that most of us are used to today - like, 1,000 times faster.

The news came down during the CeBIT 2014 trade show in Hanover and is primarily designed to help prevent the two countries from falling behind in the technology arena compared to other nations.

The next generation spectrum will be needed to power the Internet of Things, a connected network of not only computers and smartphones, but household appliances, wearables, cars and even clothing. With so many new net-connected devices expected to come online in the next several years, 4G will have a tough time keeping pace.

If the ability to download a 1080p HD movie in about one second isn't enough to lure you in, perhaps the price will. 5G is expected to be significantly cheaper than its 4G counterpart. For example, it will likely cost half as much as current 4G plans and offer up to 50GB of data.

Unfortunately, 5G technology is still several years away and most regions won't receive the service until 2020. Others, however, like South Korea, will get a head start with deployment beginning in 2017 and Britain in 2019.

The University of Dresden, King's College University in London and the University of Surrey will all work together to develop 5G in the UK and Germany.