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Since it was invented in the 19th century, the basic concept of the bicycle has stayed the same. That may be changing. Some believe the "Copenhagen Wheel" can be the future of urban transportation.

At his Cambridge, Mass., workshop, Assaf Biderman is reinventing the wheel.

"You start pedaling. The wheel understands how you pedal and then it helps you," he explained. "It just pushes you, multiplying your power up to 10 times."

It works like this: replace a regular bike wheel with a Copenhagen Wheel. The bike now works like an electric-hybrid car. A tiny computer tells the motor when to kick in. Plug the wheel into the wall to recharge it -- or just ride.

"If you're going downhill, it actually brakes you automatically and stores your energy in the battery," Biderman said. "If you're going uphill, it gives you an extra push."

The wheel can go as far as 30 miles at speeds of up to 20 miles per hour. Biderman wouldn't show CBS News the inner workings, fearful of copycats.

To read more and view the video, click here.