Smart Ring That Acts as Wallet and Key Gets Backing From Big Japanese Firms (bloomberg.com) 29
Itochu, Mitsubishi and other companies are investing in Evering (Warning: source paywalled; alternative source), a chip-embedded smart ring that can act as a wallet and a key [...]. Bloomberg reports: Evering is backed by MTG, a listed Japanese health and beauty company. MTG struck a contract with Visa last year and began selling rings in Japan, which cost about 20,000 yen ($158) apiece, including tax. As retailers around the world seek ways to make it easier for consumers to shop seamlessly without touching anything, Evering and MTG are betting that their smart ring will resonate with early adopters. Made out of zirconia, the finger-worn gadget lets people do things such as lock and unlock doors, as well as pay for drinks in stores. More than 10 investors are considering investing a total of around 1 billion yen in Evering, which may eventually seek a public listing [...]. Potential backers include Daiwa House Industry and Toppan, with an announcement due soon.
My preciousss !!! (Score:4, Funny)
Once you put it on your finger, you'll run around like Gollum.
Re: (Score:2)
Gollum was nice and thin, so it must be healthy.
Keyring (Score:2)
You have 10 fingers (Score:2)
and you can wear multiple rings with a chain around your neck.
Problem solved.
Java Ring Redux? (Score:5, Informative)
In the 90s, there was a product called Java Ring made by Dallas Semiconductor that basically did all this.
Re: (Score:2)
You mean the iButton ring with a Java iButton? I presume this is all contactless and probably supports multiple RFID standards. I think I still have my iButton dev crap around here someplace, though.
Yes! (Score:2)
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Give it away (Score:3)
But if it is cheap enough to be given away it might catch on. So as part of a service like chime. But really it is competing against phones, which everyone has. Even smart watches are not competing well against phones.
relay attack (Score:4, Interesting)
Sounds ripe for a relay attack. One receiver, one transmitter, one link faster than the normal protocol between them. Now I'm using the ring of the guy behind me in line to pay.
Re: (Score:3)
Sounds ripe for a relay attack
Riper than your phone or credit card that also use NFC for payments?
Payments via NFC have been around for some time. Other than the form factor, this is no different.
Re: (Score:2)
Yes, I'm sure nobody will notice you doing the hokey pokey with one hand outstretched to your right to get within an inch or two of the guy next to you's ring, and the other outstretched to pay. "Uhh, I'm just stretching while I pay, bro!".
Pretty easy to defeat with some transport security, as well. "Receiver presents as Joe Dickhead, weird Joe Dickhead isn't in my list of acceptable communication partners, so nah."
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We'll see. Could be that my SO is at the pay tablet with the transmitter, and I'm behind my SO and close to the mark with the receiver. The transmitter an receiver do not out themselves, they just relay what the pay tablet and ring are doing - invisible man-in-the-middle. Its important that the link between the transmitter and receiver be much faster than the normal protocol.
Yes, this could probably work with current credit cards, and car keys, and other RFID-type tech too.
https://nakedsecurity.sophos.c. [sophos.com]
As opposed to (Score:2)
It's easier and easier to read past it (Score:2, Insightful)
As retailers around the world seek ways to make it easier for consumers to shop [...]
It's not about your convenience, although that's how they pretend-present the narrative. It's about you being a "consumer" whose fundamental right is to (pay for what you) consume.
You're not supposed to think, you're supposed to desire, to want to have, to reach out with your grubby fingers and beep beep you paid for it, and the retailer is happy. Whether you're happy is of less importance.
That disposable income of yours needs to be disposed of, and they'll happily give you all the help with it, whether y
Re: (Score:2)
Seems like an NFC ring. (Score:5, Interesting)
Everything about this ring screams "it's an NFC ring"
Evering users can pay for goods by holding it over a payment terminal.
Payment terminals are NFC.
The ring, which is waterproof and doesn’t require charging,
Just like NFC.
is linked to a credit card and payment histories can be accessed via smartphones.
This is where the contract with VISA comes into play.
Honestly, linking it to money is a _terrible_ idea security-wise because instead of bumping into someone and taking their wallet, anything you touch could potentially have a reader in it. I'm frankly surprised scammers haven't been doing this already but it seems like skimmers are still successful enough to keep them occupied. If that stops being the case then expect to find out that subway cars are rigged with lots of cheap NFC readers.
Re: Seems like an NFC ring. (Score:2)
Seems to me all you need to do to get around skimming and relay attacks is a prompt to press the jewel on the ring or whatever to confirm. You still get the no touch benefits. Also the near field stuff helps with so many physical security things. Book a room online, wave your hand to get into hotel parking lot and building, touch the jewel to get into your room, much better odds no one messed with your laptop or phone bc they require ring near, walk into a store after hours due to your law-abiding ranking a
Samurai dagger (Score:3)
Re: (Score:1)
Re: Samurai dagger (Score:2)
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Seems to me all you need to do to get around skimming and relay attacks is a prompt to press the jewel on the ring or whatever to confirm.
This would require adding a battery and additional electronics to the ring, and massively drive up the manufacturing cost. This means there is zero chance of it happening.
The ring would be a good additional safeguard for smartphones... but only if they have NFC radio where you hand normally goes and isn't how they are currently designed. Laptops don't do NFC without an add-on, so you would need a specialty laptop for it to be useful.
We're all better with sticking with cards which you can keep in a protect
And condoms go where? (Score:2)
But all kidding aside, I feel better always having some cash on me, including singles.
How to lose a finger in ten seconds (Score:1)