According to Wikipedia: Li-Fi (/ˈlaɪfaɪ/; short for light fidelity) is wireless communication technology, which utilizes light to transmit data and position between devices. Click here for the whole article.
According to Techworld: Li-Fi claims to be 100 times faster than standard Wi-Fi. Li-Fi stands for Light Fidelity and is a Visible Light Communications (VLC) system which runs wireless communications that travel at very high speeds. Click here for the whole article.