Bike sharing system powered by iPhone app

Social Bicycles - a bike sharing system with a twist – plans to start using an iPhone application, the system allows users to drop off, locate, and borrow a bike nearly anywhere. The bikes are equipped with a GPS device which is locked to one of the wheels, and when the bike is locked, it's locatable using the application, so that someone can borrow it; when it's in use and unlocked, it doesn't appear in the app. The real upside to Social Bicycles is that the regular infrastructure required for bike lending systems are unnecessary, which can make lending much cheaper.