Seems like reinventing a solid wheel with a disposable one... I'm more for Latitude and Longitude: - Latitude/Longitude have been around for a long time, established, proven reasonably reliable. - Ultimate more calculable, no need for lookup/conversion - No language issues (three words seem to be primarily English) also unless it becomes an international standard whats to stop someone making a similar service with di…
In my experience, the problem is that it isn't as exact as you'd think, especially when your measurement passes back and forth between reality, the idealized cartesian lat/long, and node/distance understandings of road networks. At a previous company, our map provider moved the entire United States three meters to the west and we spent the next week re-adjusting endpoints that were suddenly in medians, on overpasses, etc.
tl;dr: Nothing's easy.