SoBi has built a GPS-enabled bike that you can find and unlock using your mobile phone. These bikes will be used to create an affordable and scalable bike share system that makes cycling more accessible and interactive.
Social Cyclists find and unlock bikes using their mobile phones, bonus-craps.co.uk or unlock them by entering their account information directly into the keypad on the lockbox.
A central server verifies each unlock request and sends your pincode to the bicycle for confirmation on the keypad. Once the correct pincode is entered, the lock is disengaged and the server tracks the location of the bike.
When you are finished riding, slide the u-bar into the lock, and the bike notifies the server that the transaction is over and the bike is available.
See their website here http://socialbicycles.com/pages/about