Smart bicycles equipped with mobile apps and GPS tracking systems that enable bike sharing in big cities. The social bikes are connected to a central network which allows subscribers of the social sharing service to see where the closest sharable bike is and to make a reservation for it. Once the user gets to the physical bike, the mobile app provides a confirmation pin to release the custom bike-immobilizing lock so the person can get on his or her way. The specially equipped lock also contains the bike’s GPS unit, which tracks the ride and makes sure the next subscriber can find and reserve the bike once its current rent is over.

A new company called Social Bicycles or SoBi plans to launch its pilot bike sharing program in the U.S. in the summer of 2012. Its founder says that it’s not just the business model that is attractive, it’s also the data the system collects.