Ring functions like a smart card for public transit

University students in Boston have come up with a novel answer to the problem of always having to search for your public transit pass — a ring you can wear that you load up with different cash amounts.
The Sesame Ring is the brainchild of undergraduates at MIT and its partner college, the Singapore University of Technology and Design. It’s a kind of wearable technology that functions much like a smart card. The Sesame Ring is waterproof and can be loaded with money, using radio-frequency identification (RFID) chips to transfer data.