A Kickstarter campaign is underway to make BitLock, a smartphone-controlled bike lock becoming a reality. The device works by a proximity sensor and automatically unlocks itself when it detects your smartphone is less than three feet away. Also working in reverse, the BitLock locks itself once you move over three feet away. Advanced Encryption Standards prevent hacking, while the accompanying app allows you to manually lock/unlock, map your ride, use GPS and see calories burned. A feature allowing you to create profiles and groups means you can share your bike with friends, enabling their usage remotely via the app. The BitLock is made of cut-resistant steel, is waterproof, and comes with a five-year battery life that warns you when it is low. See more in the video below and head here to support the Kickstarter campaign.