This goes a bit further than remote wiping.
It's already somewhat available with iOS devices, and is completely under the user's control. Basically, without your AppleID and password, the phone cannot be wiped and reactivated by a thief, essentially making it a fancy paperweight. (So it's not really a "kill switch", just a really strong theft deterrent.) The owner can wipe it themselves remotely, for security, but it would still *also* require their AppleID and password inputted directly into the device to reactivate it.
It's been working since September, and no one's found a way to bypass it. (Yet.)