The wearable market is currently hotting up with different products lately, with the LG G Watch, Samsung Gear, Upcoming iWatch (or Apple Watch), Moto 360, Nike FitBit and others which are based specifically on health and measuring of fitness level activity.
In lieu of this, Artefact is offering the Token wearable with the ability to track and manage financial resources of the user – both income and spending. The wearable is seen as an able replacement for the traditional plastic credit and debit cards which can get stolen or in some occasions, lost.
To access the device, you need to enter a PIN and the fingerprint of the user is scanned. The wearable connects to users payment accounts – savings, credit cards, digital currencies, Paypal account and more. Funds can be transferred over Bluetooth and money can also be shared with a close or trusted friend via fist bumping.
Artefact has however announced the Token wearable would never see the light of the day as the company lacks the required infrastructure to successfully back and launch this wearable. The company is however looking to use the wearable to change the focus of the wearable industry to move in its direction.
