What exactly IS iBeacons and what's its use?

[iknrisms]

Not sure if this was posted already but what exactly IS iBeacons and what's its use? I keep hearing about all the updates and assume it works in the Apple store as I get notifications about certain products when near them, but is this only for retail stores or is there use in the home, workplace, etc.?

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[Just_Me_D]

Check out the information via the iMore Blog link below.

iBeacon | iMore