Update - I have updated this blog to also include Apple
But wearing a Mobile hat, this project (NFC Ring) is a great idea
NFC (Near Field Communication) has been too closely tied by the operators to SIM ..
Nothing wrong in that per-se BUT
NFC has far greater applications than linked to payments
And it’s not working .. NFC payment volume forecast revised downward by more than 40pc: Gartner
Meanwhile, Apple plays it’s own game with zero interest in NFC – NFC Stands For Nobody F****** Cares
Nor will VCs support any startups in this space for NFC and Payment solutions like Square are catching up fast
In other words, NFC is an open technology which works at the moment but existing players are trying to create an ecosystem which they control (Apple and Operators)
Kickstarter projects like NFC Ring liberate NFC and bring it back to a simpler (but more ubiquitous) set of applications.
The system is open sourced as well .. hence a platform for others to create innovative things
Have a look .. Its a simple and a cool idea ..