Token is like the One Ring to rule them all, but it pays for stuff and protects your identity

Look out, Frodo — we might have a new "One Ring to rule them all."

Token, a new smart ring, promises to give its wearers a chance to make mobile payments, unlock doors, and ditch their passwords — all while protecting their identity with an extra level of security.  

The wearable uses the same type of near field communication (NFC) technology found in credit cards and hotel keys to make purchases, and Bluetooth — along with a wake gesture, like knocking — to log into computers, lock car doors and more. 

We've been promised wearable instant purchasing functionality before, from Kickstarter-backed products that still haven't fulfilled their potential, but Token's makers say the ring does more than just put payment power on your finger. The focus here is on security, with the ring providing two forms of authentication to verify your identity, rather than just another fancy physical extension of your credit card.  Read more...