Have you always dreamed that one item would replace both home keys and debit cards? Or that you would not have to remember your passwords for dozens of different services? All this will soon be possible!
What’s a Smart Ring?
The US company Good finance Inc. has developed a smart ring that the company hopes will revolutionize the everyday life of its users. The idea behind the smart ring is, on the one hand, to simplify life by reducing the amount of items needed, and, on the other, to reduce the risk of various cybercrime by replacing passwords with internet-based authentication.
The ring acts as a means of payment at all payment terminals where local payment is possible, as the ring uses the same NFC (Near Field Communication Technology) technology as local payment in general. Thus, the use of a ring as a means of payment does not require a specific payment terminal from the payee. Currently, the ring is compatible with Visa and MasterCard credit cards.
The ring can be used as a Passcode at work if the workplace security system uses technology compatible with the ring.
You can also replace the public transport travel card with the ring. Initially, the ring will operate on 50 public transport services worldwide, but in 2018, 30 more public transport companies are expected to join.
As a cherry on the cake, Good finance says it is working with hundreds of companies to use a smart ring to replace passwords on various Internet services.
The ring has a built-in fingerprint sensor, so the ring can only be used by its owner. The ring has a sensor that detects if the ring has been removed from the finger, and all data in the ring is locked whenever the ring is not in the finger. When you put the ring back on your finger, you need to identify it with your fingerprint in order to use it. According to the company, the customer’s fingerprint cannot be misused because the fingerprint is only stored in the ring.
Are you excited about getting a smart ring? The Good Finance will enter the US market later this year and, according to the company, sales of the ring will begin in 2018. The price for the basic version of the ring will be $ 249, special versions will cost $ 50 more. Car and home doors that open with CarLock and DoorLock features cost $ 100.
The ring is made of Sterling silver and comes in three colors: matte silver, rose gold, and black rhodium. The ring size is 9mm x 2.5mm.
Is the Smart Ring useful?
However, is the Smart Ring useful in the final games? However, the ring costs a lot and you have to buy expensive accessories if you want to take full advantage of the ring. If the technology works without problems, using the ring will save you some time, but is it worth the price of the ring?
However, there is always a risk that the Smart Ring runs out of battery. In practice, however, you might need to carry all the keys and cards you need to in the ring, in addition to the ring. Another problem with using a smart ring is probably the functionality of the technology, the new innovations often have minor usability issues.