Everyday, I see bicycle riders pedaling away with a chain lock tied around their body. And it looks horrible, apart from likely being dangerous (the chain can hook onto something during an accident, which can make its repercussions worse). The Hiplok does away with the horrible part, having been intentionally designed to be worn like a belt when not holding your bike against a post.
A chain lock at heart, the accessory is made with heavy duty steel chain links, dressed up in a nylon sleeve that should make for less of an eyesore. That way, you'll look like you've got a half-decent fashion piece strapped around your waist, instead of the rusting chain or cable that you normally wear.
Since it's meant for dual use, the Hiplok comes with two closures: a padlock for "Lock" mode and a buckle for "Belt" mode. In the former, you simply hook the last link of one end of the chain through the hasp of the lock and close it shut; in the latter, a length of webbing is threaded through the buckle for cinching around your waist.
Aside from the obvious advantage of not looking like a punk rocker from the 80s with an industrial chain strapped to your body, the belt design also makes getting it on and off your torso a whole lot simpler. No need to pull out a key like you would with regular bike locks -- just pull the webbing off and it's out.
The Hiplok comes in five color styles and is available now for £69.99 (around $115).