From their website
what3words is a global grid of 57 trillion 3mx3m squares. Each square has a 3 word address that can be communicated quickly, easily and with no ambiguity.� Our geocoder turns geographic coordinates into these 3 word addresses and vice-versa.� Using words means non-technical people can accurately find any location and communicate it more quickly, more easily and with less ambiguity than any other system like street addresses, postcodes, latitude & longitude or mobile short-links. e.g. gazed.across.like
Interesting concept, however I wonder if the takeup is ‘global’. Need to find more!.