I have developed an addressing system that is along the lines of what you say. See http://www.our-qcodes.com
Each address is assigned a 6 character alphanumeric code. Codes are assigned in a logical way.
Example; all codes for addresses in Dallas Texas begin with “DA” e.g. DA WE34, DA BCW6, etc.
System is database driven, thus no need for an internet connection. Database is small enough to easily fit on nearly any smartphone.
Comments welcome.