What 3 Words

https://what3words.com/

I am trying to find the purpose for this site. It maps out any place on the globe with three words. Esentially, it has divided the entire Earth in a grid and given a three word assignment to each square.

For example: The Eiffel Tower is at prices.slippery.traps (Which is actually funny considering all the commerce around the landmark.)

Other site examples:
Eiffel Tower: ///prices.slippery.traps
Trevi Fountain: ///received.switch.repeats
Wrigly Field: ///flops.help.home