Move over ‘Smart Watches’. Forget having a chip implanted. People are now beginning to explore the capabilities of wearable ‘Smart Ring’ technology, even though its not yet ready for prime time.
A ‘smart ring’ is a wearable electronic device with embedded mobile technology components. It functions primarily as a miniature Near-Field
Communication
(NFC) device that can interact with a variety of other digital systems (e.g. smart phones, smart locks) to perform certain functions.
The 1st generation of smart rings currently include a mix of the following features and functionality:
- fitness and activity tracker
- monitoring personal health
- gaining access to secure devices or facilities
- smartphone connectivity
- notification of incoming calls, text, emails
- contactless mobile financial payment
- secure storage of selected credentials, e.g. credit cards, passwords
- gesture-based motion controller for computer games and smart TV
Try and imagine what 2nd and 3rd generation smart rings will be capable of doing by 2025.
Check out the Token Smart Ring – It currently only needs to be recharged every two weeks, is waterproof, and comes with a bunch of sensors, including a fingerprint sensor that authenticates the user, and an optical sensor that locks credentials as soon as the ring is taken off.
Smart rings will one day effectively eliminate the need to carry a wallet, credit cards, door keys, car keys, driver's licenses and much more. The global smart rings market, currently around $25 million, is expected to have a Compound Annual Growth Rate (CAGR) of 10.16% and become a $15 billion industry by 2021.
The technology is not yet ready for prime time. It’s still on the bleeding edge, let alone the cutting edge.
Smart rings will one day effectively eliminate the need to carry a wallet, credit cards, door keys, car keys, driver's licenses and much more. The global smart rings market, currently around $25 million, is expected to have a Compound Annual Growth Rate (CAGR) of 10.16% and become a $15 billion industry by 2021.
The technology is not yet ready for prime time. It’s still on the bleeding edge, let alone the cutting edge.
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