A new accessory could replace almost everything in your purse. Created by the hardware company Token, the smart ring is designed to store your electronic credentials and necessities. The Token ring has the ability to unlock and start your car, pay for your groceries, save your boarding pass, and remember your computer password.

Wearing the ring, users will put all of their necessities in just one small, stylish band. How could this possibly be safe? The ring has a fingerprint scanner so you are the only one who can activate it. Alternatively, the ring has a built-in optical sensor, so it locks after it's taken off.

Through the Token App, users can link information to their rings. Similar to Apple Pay, or contactless credit cards, the ring can store Visa or MasterCard information. With just a tap, your ring can make shopping a breeze.

This smart ring was created by husband and wife team, Melanie and Steve Shapiro, and costs between $249 and $299 depending on the style you choose.

Would you simplify your life with the Token ring? Check it out here.