Categories: NewsTechnology

US Company Creates One Ring to Solve all of Your Everyday Inconveniences

Fans of the Lord of the Rings movies are well aware of the “one ring to rule them all.” Although such an object does not exist, technology is certainly bringing us one step closer to achieving this goal. The Token Ring for example, is capable if doing a lot of things all at once. Users can pay for items, unlock cars, and use it as a ticket for public transportation. It is not necessarily one ring to rule them all, but it is one ring capable of doing a lot.

A Multipurpose Ring With NFC and Bluetooth

It is evident our society will become more reliant on wireless communication technologies. Wireless and mobile data are so commonly used these days, very few people give it a second thought. We now start to see the same where NFC and Bluetooth connectivity is concerned, even though neither of these communication protocols are used in a widespread manner.

Token, a company looking into creating powerful and multipurpose wearables, aims to make NFC and Bluetooth more useful for the everyday person on the street. It will be quite challenging to do so, though, since very few people have an actual use for those options. Then again, their new ring is capable of making our everyday life a lot easier, which is not a bad thing by any means. Most of us still value convenience over anything else.

The new fingerprint-sensing ring is capable of unlocking cars, houses, and even computers equipped with Bluetooth-capable security measures. The ring can also use its built-in NFC technology to do exactly the same, depending on how the user prefers to configure things. Since the Token Ring has both Bluetooth and NFC capabilities, it can also work as a payment tool in stores equipped with terminals capable of processing either of these wireless communication protocols.

Related Post

Such a ring could also be quite interesting to use for public transportation services. Rather than buying tickets or using a physical “pass,” users can authenticate themselves through a Bluetooth or NFC connection, depending on which of the two are supported. All of these aforementioned use cases are quite convenient, but it may not be something most people would go out of their way for to experience right now. Token acknowledges this “problem” and mentioned how a lot of functionality is yet to come to their new ring.

Unfortunately, it appears the Token Ring will not be the only piece of hardware users will need to look into. It is a bit unclear what the company means by that statement exactly, although it goes to show the ring itself is just a means to an end. Unlocking your front door for example, will require a proprietary connected deadbolt. Solutions for your car will be produced as well over time, yet all of these accessories will need to be purchased separately. That will be a major drawback for a lot of people, as they want a one-stop solution for everything in their life, without too much fiddling around.

Moreover, this ring will only be useful in regions where either Bluetooth or NFC technology are commonly used. Without partnerships, this Token Ring will be nothing more than a fancy accessory with a bit of extra functionality hardly anyone uses. Unless you live in a major city where Bluetooth and NFC technology is experimented with on a regular basis, this ring will have no real value to you. Considering it costs $249 to purchase, everyone needs to weigh their decision rather carefully.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

AMP Price Up 46% After Binance Listing Announcement

AMP Price is up 46%, making it the biggest gainer on Crypto.com. With a market…

1 hour ago

The Sandbox Price Up 15%, Potential Adidas Partnership Brewing?

The Sandbox price is up over 15% today making it the second biggest gainer on…

5 hours ago

Top 10 Metaverse Coins With the Highest Unit Price

With the variety of Metaverse coins on the market, there's an even wider range of…

8 hours ago

IRISnet price up 60% After Binance Announces Network Upgrade Support

IRISnet price is up over 60% today, setting it as the biggest gainer on Crypto.com.…

9 hours ago

Elrond Price Up 19% After Maiar DEX Launch

Elornd price is up over 19% today, setting it as the biggest gainer on Crypto.com.…

18 hours ago

Top 3 Most Anticipated Metaverse Coins on the Market

Metaverse is the name of the game when it comes to high ROI cryptocurrency projects.…

19 hours ago

This website uses cookies.