Your phone is just as much a computer as a desktop PC or server on the cloud. It has wifi capability, which is a part of peer-to-peer networking. Peer-to-peer means exactly that: neither is in charge, neither has capabilities the other lacks.
After that, it’s just a matter of software – what features does the manufacturer WANT you to have? That’s the magic part – convincing a big company to let you cut ties with a server-based infrastructure and do your own serving and sharing without one of their apps. We’re long since past the point where we even need phone companies for in-city calls – the radios and cpus on modern cellphones are easily capable of doing the job without a central service of any kind, and there’s plenty enough of them to cover in-city ranges.
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