With 2010 predictions of hot new trends in social media running rampant this month, popular theories include augmented reality, real-time, Internet television, convergence, cloud computing, content curation and perhaps most notable is the concept of geo-location functionality.

As online services expand and adapt to newer technologies, our devices and gadgets are converging into one universal piece of hardware as we have seen with the development of smartphones over the course of 2009.

Location sharing services such as Foursquare may break ground in the new year. Currently the application is available for download on either your iPhone or Android, with a BlackBerry application on the way. Phones with web browser access can also make use of the service through the mobile website.

The service is being sold as a way to connect with friends and always be ‘in-the-loop’. Being able to see where your friends are, and letting them know where you are enable consumers to learn more about their favourite spots as well as receive recommendations for new places to discover.

Reviews and to-do lists help consumers keep track of the things they’ve done and find tips on places they have not yet been. The application is also a fun way to check out your hometown. Participants earn points for every Foursquare check-in and can win badges based on what they like to do.

Foursquare keeps tabs on your regular hangouts - and the more loyal the customer you are, the better chance you have to receive free offers such as a coffee, ice-cream or even a free hotel stay.

Consumers are embracing the multi-function of sharing services such as these, however the concern for privacy continues to grow. Fueled by the ubiquity of GPS, we may soon be sharing our whereabouts with the world every time we tweet, comment, or upload.