I need to know if this is possible. I want to develop an iPhone app that uses facebook credential to login (this is possible i know) and the create an event (like a dinner) and invite friends from facebook. When the time for the event comes (like 15-20 minutes before the start time) all the users that are attending the event can see how far are the others participants to this event using GPS (Core Location lookups) and see on a map as they move towards the place of the event
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Yes. Everything you have described in your question is possible.
However, iPhone doesn’t allow things like that to run in the background – your app would only work if each guest had the app open as they were travelling towards the event. The app would then update a server somewhere with their locations.
You might be able to do this with a notification that told them to open the app 10 minutes before the event started?
Android allows background tasks so you might want to write this for Android devices first and then make an iPhone version later?