http://player.ooyala.com/player.swf?embedCode=o5aGNxMTrOOMeBr8s7ZdZmQm5YvSVPt7&version=2

FourSquare has been historically underpowered. You can check in, but then what? You add a tip? Who wants that? ChatSquare, soon to be found at ChatSQ.com and on iPhones near you, is an app that lets you chat with other people in the same FourSquare location. You’re in the club? Chat with the bouncer. The girl by the bar. The man being kept in the meat locker. At a conference? Make fun of others around you to your friends or even comment on the speaker.

The app isn’t quite ready yet – we’ll update you when it’s out – but it’s a great idea and a cool implementation. It uses the FourSquare API to place you at different locations and opens a chat room at each of those locations. All you have to do is talk. You can block people, ignore them, and, provided you’re desperate enough, stalk them around town.

Check out the video for more details but generally it’s a very cool app.