This is an interesting concept but I feel like NYC, with its high-level of bike theft is an inappropriate place to implement it. Regardless, Social Bicycles feels like this will single-handedly change the way bicycle sharing systems function. Well, maybe they don’t say that verbatim but here’s their description of the project:

SoBi will be the first public bike share system with the authorization, tracking, and security systems attached to the bicycle itself. SoBi uses GPS, mobile communications, and a secure lock that can attach to almost any bicycle and lock to any regular bike rack. The system does not require separate infrastructure and can be deployed at approximately one-third the cost of existing systems. Administrators will be given powerful tools to manage demand and map patterns of use. Users will enjoy door-to-door transportation and an interactive cycling experience that can track miles traveled, calories burned, CO2 emissions offset, and connections to other Social Cyclists.

What do you think?