Smart rings are nothing new. We have seen a bunch of them in the past. The folks at 16Lab are working on a new wearable computing device that users can wear like a ring. A ring like this can be used as a gesture controller, non-contact key, or even as a payment solution. This particular ring is expected to be waterproof and will offer security features for your protection. The company is partnering up with top industry partners to bring this product to the masses. More details are expected to be released in the near future.