On NFC and Wave.
Now I may be wrong, but I heard a Sprague-Speak vesion of that statement which said, to me, Wave doesn't have any NFC technology, BUT we do have an interest in the technology that communicates NFC data to other devices securely. Maybe I'm reading it wrong.
In any case, More TNC wallet use and more TPM consumer driven use and machines means more need for TPM enterprise managed use of communicating all that data securely.
I see NFC as a prime driver of the need for a Trust Matrix to put it all into an Alea-Speak context. NFC creates the cash and the Identity -- Wave securely communicates that information to the rest of the Matrix is how I think it happens. I think that is consistent with Steven's phrasing. After all, he doesn't want to claim he owns everything in addition to Europe.