This is one of the features that Blackberry has. When the phone is lost and it is locked or when the holder changes SIM, it wipes out everything and restore the old factory settings. By this no one can access the phone messages or contacts. Remote Wipe is another technical aspect getting popular day by day.
This allows you to delete your phone data from remote location. You can install the app login and format your phone completely so that no one can locate your confidential information. Till yet I had not seen this for android.