The network is supposed to be up to 100 times faster than current data speeds, but it requires cellphone tower equipment to be closer to users than before. Wireless companies in the U.S. say they'll have to install about 300,000 new antennas – roughly equal to the total number of cell towers built over the past three decades. That's causing outrage and alarm in some neighborhoods, as antennas go up around homes.

At a lab in New York, Verizon invited CBS News' Tony Dokoupil to meet some of the entrepreneurs developing tools to run on the next generation of wireless technology. Jonathan Reeves, the CEO of Arvizio, said 5G service is extremely important to his company's mission. His product allows users in different locations to interact with 3D images projected through a lens.