I believe most of below could be accomplished with both V1 and V2 boards via software updates. However caveat to the board will require a mobile device before riding. And that I fear may not be acceptable to the user community (everyone chime in here) with your thoughts!
PIN Locking Let's start with PIN, I want to start out by saying I agree with @sponge said. I'm sure a software update could be made restricting the gyro or motor from initiating until there's a valid authentication form the mobile device. This would also require a change to the mobile device app to support support a PIN. And should be an option put into place, along with PIN Locking, we should also have a Remote lockout. After too many invalid attempts (say 5) the board would be shutdown for 1 hour.
GPS location. As I write this I understand the boards do not have GPS modules installed. In fact for this purpose they don't need it. I look at the mobile device to supply the lat/long of the board. Once the mobile device has been established to the board (remember the PIN here), the phone would send up the lat/long coordinates to a server at FM. A web application (portal) would be available for owners to log in, track history, and current location of their board.
Remote Lockout. Much like Google has for Android. If I can't find my board, I want the ability to lock it out and track it's location. When a board is authenticated the a mobile device, a connection would be made back to the web-server/DB that would check for lockout commands. So regardless where the board is, once a connection to the board is made, a lock out command would be executed. And as a bonus for those of us who have kids, let's add a speed restriction so our children can fly 19+mph down the sidewalk.
Geo-Fencing With the use of the mobile app keeping state it would be possible to create a Geo-Fence for the board. Once the board exceeds the geo-fence it would shut down.
Speed Restriction. This isn't a cloud based service. Just an enhancement to the current application and settings of the board. I would like to have my kid ride the board with the ability to restrict to a customize-able top speed
With all this except speed restriction, would reduce theft of OW boards by great margins. I ask FM to consider these ideas, and if you need a software innovator... you know where you can find me. :-)