The BitLock is a new bike lock that ditches keys in favor of smartphones. The lock works using an accompanying app and is paired to your phone via Bluetooth. To unlock the BitLock, simply bring your phone within three feet of the lock and voila. The lock pops open with the touch of a button (said button is on the lock itself.)
BitLock also allows you to share the location of your bike with your friends. Once found, you can manually disengage the lock so that your friends can borrow your bike. If your phone dies, all you need to do to unlock your lock is find another smartphone as all data is stored in the cloud. BitLock is currently seeking $120,000 of funding on Kickstarter.