When I first started paying attention to smartphone-based locks, I was worried about them being hacked and their batteries going dead. Still am. I initially thought that we would still be defaulting to physical locks and keys for some time to come. But it turns out that those are compromised as well, with usable replicas of some of the most secure keys - so-called bump keys -- now able to be 3D printed.
With passwords falling out of favor at the same time (for good reason), we're going to have to reinvent how we securely access things, both physical and virtual, in the future. Very interesting times are ahead for authentication and access management technology. I guess we'll end up with an electronic something or other with wearables, biometrics, device fingerprinting and data analytics somewhere in the mix, but I expect a good bit of trial, error, security incidents, and maybe a startup bubble between now and then. The key (as it were) will be to strike that magic and elusive balance between security, usability, speed, and cost.