The new cable is still under development, but in 2016, it will launch for its customer.
Perhaps it will be less costly than the previous Thunderbolt.
Thunderbolt 3 For Your Smartphone Reach Upto 40GB Per Second
The project was named Light Peak.

Thunderbolt is not only a one-way speed.
Thunderbolt crates 4K video content via cable only, and now Intel feels proud of it.
Two years ago, Intel used only 100 developers as a startup of the research in Thunderbolt 3.

USB cables also played well in connecting other peripherals devices but have less resolution and transfer rate functionality.
What can you do with a transfer rate of around 40GB/sec speed in both Input and output?
However, you might run two 4K 60-hertz monitors simultaneously using Thunderbolt 3.

And so you have to wait for the launch of Thunderbolt 3 till 2016 mid.