The New Yorker’s Elements blog has a piece about mapcodes. These are short alphanumeric codes assigned to every location on the planet, with short codes reserved for areas of high population density. It’s meant to be a substitute for latitude and longitude, and aimed at parts of the world where there are no formal addresses (which makes directions somewhat interesting): give someone a mapcode, and you’re giving them a very precise location.
The Peace Tower in Ottawa, for example, has an Ontario mapcode of 09W.YK (mapcodes exist within country and state/provincial contexts).
The main problem, as I see it, is that while the Mapcode Foundation is trying to make mapcodes a standard, it still relies on data tables to produce the code, which is to say that there’s some computational overhead. Whereas something like Universal Transverse Mercator coordinates can be derived from topo maps (which have UTM grids on them).