Latest Nightly Build of CyanogenMod has a new feature - CyanogenMod Account

Cyanogenmod account

The latest Nightly build of CyanogenMod 10.1 and 10.2 has a new feature, CyanogenMod Account, with that feature you can find your lost or stolen Android device, and you can also remotely wipe it. That's very cool. After installing the Nightly build a window opens where you should create your account for this.

A question though, doesn't Google's Android Device Manager work the same? Don't get me wrong, I will probably activate this feature too, but isn't that having two services doing exactly the same?
You can log in to your account on the website to manage your devices. Right now you will be able to locate your device on a map and send out a signal to remotely delete its data. More features will be added in the near future.

This isn’t the first service that’s offering a locate and wipe feature for Android devices however the CyanogenMod team says that it is the most secure. It is based on open source code that can be inspected by anyone. Communication between the browser or device and the servers use SSL encryption. Passwords are not sent to the servers in plaintext and finding your device or wiping out its data cannot be done unless the password is authenticated first
Source: CyanogenMod Account Is Now Live