Dubbed as the Aeklys, this smart ring enables the user to make seamless contactless payments in places where there are NFC payment systems. So, this means that the Aeklys smart ring can store all your credit and debit card information for you to make contactless payments without using any of your biometric data. That is pretty cool, considering the security risk of personal data in today’s digital world.

According to the developers, the Aeklys will enable just five contactless functions at launch. These include the following:

However, both, Starck and iCare say that they will add a bunch of new functionality to the ring in the near future. The developer and the designer of the ring want you to use the ring as a key part of your digital ecosystem and state that the ring “connects you to your environment like magic.”