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(Pocket-lint) - Although riding a bicycle is both healthy for the environment and your body, it's extremely tedious when you have to lug around a lock and key. Three engineering students from Chile have developed a unique solution however. It's called Yerka Project, and you can't steal it.

Yerka Project is a prototype bike. Juan José Monsalve, Andrés Roi, and Cristóbal Cabello designed the bike, outfitting it with a removable seat post and a frame that splits apart. The idea is that you slot the seat post through the frame's down tube in order to mount, or rather lock, the bike around a post, tree, fence, or whatever else you have nearby. The process takes less than a minute and makes it practically impossible for theives to quickly steal your bike.

Somewhere between 800,000 to 2 million bicycles - worth about $50 million altogether – are stolen every year, according to cycling lawyer Bob Mionske who spoke to Esquire. That's because stealing a bike is easy. Self-confessed bike theif Nick Smith told Vocativ.com that he can steal a bike in under a minute, and that all anyone needs to steal a bike is a trusty tool such as a bolt cutter, hacksaw, hammer, chisel, etc.

Smith would surely be able to steal Yerka Project with his favourite tool of choice, a 4-foot aluminum-handled bolt cutter, but then he'd have a worthless bike on his hands. After all, in order to steal Yerka Project, you'd have to break the lock, which means you'd have to break the frame and render the bike useless. If you're feeling especially viscious though, you could always steal the bike's wheels and saddles.

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Maybe the students behind Yerka Project will eventually figure out a way to lock parts as well, especially by the time the bike goes up for sale. No word yet on when that'll happen, though. In the meantime, watch the video above for a closer look at this nifty prototype.

Writing by Elyse Betters. Originally published on 21 August 2014.