The file contains data about your latitude and longitude along with the timestamp. This information can be easily accessed by jailbreaking the phone, unfortunately, on the computer even without that. Moreover, the file is not encrypted and can be read by just anyone using a simple app.
Now thanks to a new Cydia app called Untrackerd, you can easily prevent your jailbroken iPhone from tracking down all the bits and saving it to a secretly hidden database file.
Continuously clean up locationd’s history data in the background.
This package installs a daemon (process that can run in the background) to clean the consolidated.db file
Available for free on Cydia under BigBoss repository, simply search for Untrackerd on Cydia and install it to prevent your iPhone from tracking your location.