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I understand a place (like a business) can set up a geofence through which phones pass. My question is, can a PHONE have its own geofence (always moving, geographically, as the phone moves, with the phone at the center of the geofence area) through which another phone can pass, either because the first phone is moving, the second phone is moving, or because both are moving?

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From Webopedia's definition, it appears I am able to answer my own question: "Geo-fencing, or geofencing, is a term that refers to software tools or applications that utilize global positioning systems (GPS) or radio frequency identification (RFID) to establish a virtual perimeter or barrier around a physical geographical area." I'm concluding from this definition that a mobile phone cannot establish it's own "mobile" geofence, through which other phones may pass. If this is incorrect, I'd appreciate any additional insight anyone has.