A couple of years ago I visited a startup which also tried mapping worldwide coordinates, what3words [1]. They map 3x3m squares to a combination of three words (language customizable). For example: the Eifel tower would be at combos.cove.split. They had some clever tricks for mapping short memorable words to densly populated areas and longer ones to the middle of the ocean. Their aim was similar, to enable talking about a place without the existing infrastructure of adresses and streetnames and for example make it possible to deliver mail in slums.
[1] www.what3words.com