This paper argues that seafloor geodetic networks, monitoring tectonic plate motion and deformation, supplementing terrestrial geodetic networks, can provide important information for the understanding of crustal processes, globally. The proposed monitoring system consists of three main components: real‐time kinematic‐differential GPS ship positioning, precise acoustic ranging between ship and seafloor transponders ‐ which establish the network nodes‐ and near‐bottom direct acoustic measurements of the network baselines. The coordinates of the transponders in a goedetic reference system can be determined from these observations and a sound‐speed structure model. The motion and deformation of the tectonic plate can be traced as a change of coordinates and/or the internal geometry of the network. Stochastic and mathematic models, algorithms and data analysis are crucial for achieving the necessary accuracy in such a demanding process regarding seafloor position estimation.