This ReadWriteWeb article has some insightful information about the GeoLoqi API that just went live. The site is designed to be:

a private, real-time mobile and web platform for securely sharing location data, with features such as Geonotes™, proximal notification, and sharing real-time GPS maps with friends.

Which, mostly, sounds entirely like gibberish. The main goal, I believe, is to augment physical locations with Internet data - i.e. you walk past a historic building and get a notification that you can learn more by reading the Wikipedia entry on it, or you go to the grocery story and your significant other has left a notice there for you to remember to pick up an item.

Part of me absolutely loves this idea and part of me finds it terrifying to potentially have my geolocation data tracked so frequently. I suppose this is the way of the future and I should start getting used to it. Right?