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Yahoo's New Geo Concordance: a Geographic Rosetta Stone?

Last week at Where 2.0, Yahoo's Gary Gale discussed "geosetta", the concept of a geographic Rosetta Stone, which allows for a unified conversion of geographic namespaces based on different geographic reference identifiers (e.g., Yahoo's Where on Earth ID, or WOEID). The idea behind geosetta is that developers should be able to easily identify and cross reference a location among multiple service providers despite any disparities that may be inherent in the respective namespaces.