Airbike is a bike sharing system which uses a wireless electronic lock and an iPhone app to enable hubless, decentralized bike sharing.
Renters use the app to select and find nearby bikes of various types, unlock the bikes electronically, and are assisted by the app in pathfinding and ride metrics. When they are done, they relock the bike with the app in a place of their choosing, and take a photo of the bike.
The app uses gps to record the new location of the bike, and calculates a fee based on time rented. In that way, a bike sharing system can be set up in a city very quickly and easily, with little need for expensive hub infrastructure.
Stealing would be discouraged by using custom branded and registered bikes, and customers retain responsibility of the bike throughout the duration of their trip.
Since fees are dynamic, pricing can remain flexible to both customers and us.
Finally, the decentralized, portable nature of the system allows cyclists to rent out their own bikes using our system, in a manner akin to Airbnb.