The ring appears to be the next big accessory to go smart. A new Kickstarter campaign introduces the Xenxo S ring, which makes it easy to answer calls, store files, control your music and more. One of the most notable things about this ring, though, is the intense interest it has gotten from the public. In just a short time, the ring has already raised five times its goal and is well into six figures in funding.

Inside the ring is a powerful microcomputer that has more than 94 components, four sensors, and a 32-bit controller. Press the ring in the right area and you’ll be able to take a call, send for emergency help, access files, and more. You can also use the ring to make payments at the cash register and set silent alarms. If you get separated from your phone, the ring will alert you.

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So far, wearables have been limited to bracelets, but innovators are working hard to build them into other products. One of those is a ring that could provide the same access as other wearables. Token is an early version of this new type of wearable, serving as a smart ring that can replace the need to carry keys, credit cards, access badges, or transit passes around with you. The ring can also replace passwords to give you easy access to all your devices.

The ring doesn’t automatically perform all those functions, though. Ring wearers will activate various features through certain gestures. You could, for instance, knock on a door to make it suddenly unlock.

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When many people hear the term “wearables,” they think of fun products like the Apple Watch and the Fitbit Flex. But in recent years, the medical community has been eagerly eyeing new technology that could improve health outcomes for patients.

With wearables for healthcare, medical practitioners could take a preventive approach to helping patients. Wearables would monitor for problems and alert doctors, which would be far less expensive than treating those issues once they’ve progressed. Studies have found that wearables could save billions of dollars in caring for congestive heart failure treatment alone.

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