VMware has been demoing what sounds like almost identical technology for a while now:<p><a href="http://itknowledgeexchange.techtarget.com/IT-watch-blog/like-supermanclark-kent-for-your-phone-vmwares-mobile-virtualization-platform-mvp/" rel="nofollow">http://itknowledgeexchange.techtarget.com/IT-watch-blog/like...</a><p>It creates a virtual machine that's hardware encrypted on the device, and actually runs them as two separate phones. Similar full-on or pseudo-virtualized environments have been used on the iPhone, iPad, and other devices to various degrees of success over the years, but I think it is a slight hyperbole to say "this could change the way people use smartphones, entirely".