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5 Mind-Blowing Bike Concepts Of The Future

They may say that one shouldn't reinvent the bicycle, but that piece of folk wisdom seems to be a thing of the past. Newer, crazier and greener transportation devices are conquering our cities’ streets. From Segways to uni-wheels, we may think we have seen it all. However, it seems like the future has much more in store for us. The devices below may just be concepts in the making, but imagining them on the streets of tomorrow is a pretty exciting thing to do.

Di-Cycle

This futuristic bike concept appeared in the Dutch city of Helmond – that has just as many roads as it does rivers. This may explain why its developers insisted on the idea that the bike should be as good on the pavement as it is on water. The device looks like something from a James Bond movie, but its designers to promise smooth operation and a simple control system, just like a regular bike.

“One” By Thomas Owen

Folding bikes may not be a ground-breaking idea, but if you look at the design of this one, you will clearly see what all the fuss is about. The concept was to create a bike that is perfect for the urban environment in more than one way. Featuring a revolutionary power assist system, “One” will give you fast and effortless way to get around the city. Once you’re done, the bicycle can be folded into a decent looking case, that will not bother anyone once you load it up on the subway. Not much else in known about the bike, but young urban travelers are waiting with bated breath. If your looking for something a bit smaller then there is even folding bike that can fit into your backpack.

 Sideways Bike

Why ride a bike that’s facing forward when you can ride one that is facing sideways? At least, this is the question on designer Michael Killian’s mind. He is the creative mind behind something that seems to be the cross between a bicycle and a snowboard when it comes to the movements that set it in motion. In this model, you will see a seat in the middle with handlebars on both sides – and the rider will appear to be perched on top of this contraption overlooking the common world beneath.

Josef Cadek Locust Bicycle

True, most contemporary designers of urban bikes do stress portability. After all, we can only expect the cities of the future to get even more crowded and overruled by traffic jams. But no one takes it to quite the same level as Josef Cadek with the Locust Bicycle. This particular model folds into a perfect circle after you are done using it. The bike takes the cake when it comes to futuristic looks and is sure to be the center of attention – if nothing else, at least for its bold bright colors.

Backpack Bicycle

There is something about bicycles and backpacks that just goes so well together. So it’s only natural that at some point people would decide to put the two together. Backpack bicycle in another conceptual addition to the “foldables” family – but in this case, the designers even though about the carrying case. After you are off the bike, you can fold it quickly and neatly into a backpack and carry away like you have never had a bike in the first place. The concept was a prize winner in the International Bicycle Design Competition and we can hope to see it on the streets soon.

White House backs banning gay conversion therapy for minors

President Obama speaks at the White House on Tuesday.

(Andew Harrer / European Pressphoto Agency)

By RYAN PARKERcontact the reporter

Banning gay conversion therapy for minors is a good idea, the White House says

The Obama administration spoke out Wednesday against using so-called conversion therapy on minors, saying the practice, in which mental health providers try to change a person's sexuality or gender identity, "is neither medically nor ethically appropriate."

The stance came in response to an online petition with more than 120,000 signatures seeking a ban on such therapy.

The petition was started Jan. 3 on the White House’s website, days after Leelah Alcorn, a transgender 17-year-old, committed suicide. In her suicide note, the teen said that, among other measures, her parents took her to religious therapists who refused to accept her identity as a girl.

Backlash against religious freedom laws helps gay rights in Indiana, Arkansas

"Therapists that engage in the attempt to brainwash or reverse any child's gender identity or sexual orientation are seriously unethical and legislation is needed to end such practices that are resulting in LGBTQ+ deaths," the petition says.

The White House said it "fully supports efforts" toward such a ban.

"We share your concern about its potentially devastating effects on the lives of transgender as well as gay, lesbian, bisexual and queer youth," Valerie Jarrett, senior advisor to President Obama, said in the White House response to the petition.

"The overwhelming scientific evidence demonstrates that conversion therapy, especially when it is practiced on young people, is neither medically nor ethically appropriate and can cause substantial harm," she said.

Medical groups have also come out against such therapy.

"Since homosexuality is not a disorder or a disease, it does not require a cure. There is no medical indication for changing sexual orientation," the director of the Pan American Health Organizationsaid in 2012, adding that conversion therapy represents "a serious threat to the health and well-being — even the lives — of affected people."

California, New Jersey and the District of Columbia have banned licensed professionals from practicing conversion therapy on minors.

California’s ban was signed into law in 2012 and took effect in 2014. Since last year, 18 other states have introduced similar legislation, according to the White House's statement.

A national ban would require congressional action.

Lawmakers in California are trying to do more to eliminate what they call a harmful practice.

Last month, state Sen. Ricardo Lara (D-Bell Gardens) announced a campaign targeting religious facilities that purport to help troubled teenagers or "cure" lesbian, gay, transgender or bisexual children.

"Many of these facilities have operated without regulation or any type of oversight," he said.

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Prepare for euro-dollar parity—and fast

As the euro trades around a 12-year low against the dollar, analysts believe euro-dollar parity will be reached soon—and that the single currency could weaken even further.

It comes as the European Central Bank's quantitative easing (QE) program to stimulate the euro zone's lackluster economy got underway on Monday.

Expectations of the move – which will see euros flood the market -- sent the currency below $1.1000 for the first time since September 2003 on Friday. The currency has since weakened further and in afternoon trade Wednesday, the euro was stuck around $1.058.

Now analysts are questioning how long it will take for the euro to reach parity with the dollar – and potentially fall below 1:1 against the greenback.

Read MoreNowhere but down? Euro reacts to QE

"I think we're heading towards parity and that's the logical conclusion of where we're heading next," David Zahn, head of European Fixed Income at Franklin Templeton, told CNBC Wednesday.

"Originally, I was thinking next year (we'd see parity), but at the rate we're going it does seem like it could be much sooner than that."

Jill Dyson | Getty Images

But he said the ECB shouldn't be worried at the rate of decline yet, adding: "I think they will become concerned if the pace becomes too quick."

Michael Hewson, chief market analyst at CMC Markets, said the single currency had the potentially move even lower.

"Few would have imagined in May last year when EURUSD was trading just shy of 1.4000 that nearly 10 months later the currency would have slid nearly 35 percent to be trading just short of 1.0700 with the potential to go even lower," he said in a note, entitled "How low can the euro go?" on Wednesday.

"The next target sits at 1.0500 -- the March 2003 low -- and it remains a very short hop from there to parity."

A senior currency strategist at Societe Generale agreed that the euro was headed to $1.05 and could reach parity with the dollar in a few weeks.

"The size of the move you're seeing is really a reflection of the intensity of QE and it's forcing people to realize that they own too many of the euro assets…$1.05 is going to come fairly soon and parity is a possibility in the next few weeks," Sebastien Galy told CNBC Tuesday.

However, Galy warned that it was, "very rare for the market to be so right at the start of the year and not get burned very badly at some point," and that some consolidation was likely.

'Euroglut here to stay'

Currencies tend to weaken during QE as the bond purchases by central banks boost the amount of money in circulation. Lower interest rates compound the effect as they encourage consumers to spend and businesses to invest, boosting the economy. 

A weak euro is broadly positive for the struggling euro zone, and should help it tackle deflation and stimulate the region's exports, which become cheaper in the global market as a result.

Conversely, a strengthening dollar worries U.S. exporters, as it makes their products more expensive in foreign markets.

The weakness in the euro has been compounded by concerns that Greece – which is battling an ongoing economic crisis -- could ultimately leave the single currency and others could follow, undermining the future of single currently. Expectations of a rate hike by the Federal Reserve on the back of a strengthening U.S. economy is also giving the dollar a boost.

The ECB's 1 trillion euro bond buying program has, predictably, causedthe yields on euro zone sovereign debt hit record lows (and, conversely, prices to rise) and has led investors to look for higher returns elsewhere.

Read MoreECB begins bond-buying: What should you do?

Strategists at Deutsche Bank warned that capital outflows from the euro zone could be greater than anticipated by the ECB, putting more pressure on the euro.

"The euro-area's huge current account surplus reflects a very large pool of excess savings that…combined with ECB quantitative easing and negative rates (will) lead to large-scale capital flight from Europe causing a collapse in the euro and exceptionally depressed global bond yields," Deutsche Bank strategists George Saravelos and Robin Winkler said in a note Tuesday.

"The greater the European outflows, the more the euro can weaken and the lower global bond yields can stay," they added. "We now foresee a move down to 1.00 by the end of the year, 90 cents by 2016 and a new cycle low of 85 cents by 2017."

Ominously for ECB President Mario Draghi, who spoke at a conference organized by the Center for Financial Studies in Frankfurt on Wednesday, Saravelos and Winkler warned that, "Europe will continue being a major source of global imbalances for the rest of this decade."

- By CNBC's Holly Ellyatt, follow her on Twitter @HollyEllyatt. Follow us on Twitter: @CNBCWorld