Is it possible for an iOS device to broadcast as an iBeacon and monitor for iBeacons at the same time? I'm currently doing this with a custom raspberry pi solution and want to know if it could translate to the device.
Yes, you can do this if the app is in the foreground (transmission always requires the app to be in the foreground.) You can see a demo of this by using my Locate app in the AppStore.
An important thing to realize is that the device will not pick up its own transmission in a scan.