Egads! New technology for geographically tracking and monitoring your tangible assets. Assets in this case being your children.
Wherify will be selling the equivalent of parolee ankle bracelets for locking on your kids wrist...but in friendly colors (galatic blue and cosmic purple). Built in GPS, watch, and pager allow for tracking and, presumably, emergency signalling. It really does lock to their wrist, but don't worry:
Your child has safely arrived at the pool party. Now unlock the locator via Internet or phone so your child can remove it. Creepy. Reminds me of those dog leashes you sometimes see harnessing a hyper kid to Mom in malls.