This report thinks so:
http://technology.inquirer.net/infot...o-titansreport
Frankly, at this stage, I'm not sure about its thesis. There is a missing piece: leveraging FB's huge installed base to create a P2P network that links all FB-connected phones and devices. This would still require a hardware infrastructure.
Good thing this idea isnt new:
http://news.cnet.com/2100-1033-253297.html
Swarm Phone Networking anyone?