The bendable bike by young U.K. industrial designer Kevin Scott is a bicycle with a flexible frame that allows it to be locked to a pole without using a separate lock. Of course, the frame is rigid when ridden, but pushing a lever collapses it so the user can wrap it around a fixed lamp post.
It's quite a clever idea and, according to the Daily Mail, Scott is looking for investors to help him develop it further.
My immediate impression is that you'll still need separate locks to secure the wheels and seat, parts that can still get stolen even if the frame is safe. Perhaps the designer will refine the design once he gets financial backing.