By the description in the article, sounds a lot like that japanese mobile app from Techcrunch50.. Sekai Camera, from TonchiDot.

Anyone remembers their Q&A? "Join us".

edit: swapspace's link made me think it has little to do with Sekai... One is targetting business and the other, end consumers.

The actual algorithms used were developed ten years ago: http://en.wikipedia.org/wiki/Scale-invariant_feature_transfo... so it's not exactly an image recognition breakthrough.

If this could be done quickly, it beats the pants off GPS.

Take a look at this video to see it in action: http://www.mobvis.org/graphics/HyperlinkingRealityTheMovie.m...

A video of the demo would be nice to look at.

I was searching for the same thing. This came up: http://www.mobvis.org/demos.htm

and here are the demo videos: http://www.mobvis.org/downloads.htm