This is actually something for fun. Made by someone named Blake Bevin, it was to honor the movie ‘Back to the Future 2.’ He equipped the Nike shoe with a force sensor which reads the pressure of your foot when you put it in the shoe, and activates the two servos which then tightens the lances. There’s also a switch which will release the pressure and thus reverse the servo and loosen the lace with a touch of a button.

[Power Lace Shoe via Engadget]