Three Little Words Could Transform E-Commerce - Bloomberg Business

Three Little Words Could Transform E-Commerce - Bloomberg Business: "Have you ever struggled to explain to someone exactly where you are?
U.K. startup What3Words is trying to make that problem a thing of the past. It has divided up the entire world into a grid of 57 trillion small plots of land, each associated with a sequence of three random words. 
So tourists in London can use "casino.coach.bikes" as shorthand for "meet me on the nose of the lion sculpture at the south-west side of Nelson's Column in Trafalgar square." The three words can be deciphered by anyone who uses the What3Words app.
While it's handy to precisely locate friends at a landmark or in a festival field, the app's real value lies in its ability to transform markets that lack the rigorous postcode system found in much of Europe and the U.S."



'via Blog this'