Think of all the things you could lose in life. Your luggage. Your wallet. Hey, even your kid [1]! With the help of the upcoming device iTraq [2], you can keep track of your valuables straight from your smart phone. And if you happen to lose that, you can use the website.

Here's how it works. After you attach the sleek, credit-card-like device to your valuables, it will use cell towers to determine its location. Some of the promising features include:

• The battery can last up to three years.
• It works worldwide. Unlike Bluetooth tracking devices [3], which only work within about 100 feet, iTraq can track something that's on the opposite side of the world, so long as there is cell service.
• You can set up "security zones." The app will send you an alert if your valuable — or child — goes outside of it.

Beginning today, iTraq is running a campaign on Indiegogo [4]. Early birds can get it for $39, and it will ship in August. The regular price is $49, or you can get three for $129. If you want to be a beta customer, it's $250 to receive it by June. I think it has great potential for regular travelers. Imagine being able to tell an airline exactly where your suitcase is after it doesn't show up at baggage claim.

Watch the video below, which explains the technology and the potential use cases more.