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(S)He has more here: http://okikata.org/work/study/live-camera-stitching.html . I'm not sure how complicated it would be to do something like this, but I tagged this as programming. You're welcome to suggest a better tag.
Very cool. I don't think it's easy. I have an app (I think it's called sync?) that does this ok, but it's not live.
I imagine in time we will have cameras that will be able to quickly map a place that it moves through, creating a virtual space that you can go back and re-explore.