It looks like Facebook is hard at work on either a brand new photo sharing app or a huge new addition to its existing app. According to screenshots and documents acquired by TechCrunch, this new system will allow you to share photos with your friends based on where you are and who you're with.
The entire thing clearly takes notes from existing photo sharing apps such as Instagram, Color and Path. But having it integrated into Facebook, the world's largest photo site, makes a lot of sense.
So, in theory, if you're at a concert or something like that, you'd be able to upload one or more photos tagged with your location, as well as who you're with. Those would go to your page. But you'd also be able to check out everyone's photos from the event, sorting photos by time and location.
The whole thing seems pretty slick, and is worth checking out in full over at TechCrunch.