Concept watch can help you manage your money

Concept watch can help you manage your money
Seattle-based product design studio Artefact's conceptual mobile wallet, Token, allows you to connect multiple payment accounts to the device.

There is a problem when an industry becomes synonymous with "innovation". Invariably, there is an unfounded pressure to live up to ever-changing expectations.

The result: smartwatches that squeeze too many functions into a single device, buzzing incessantly at every single notification on your smartphone. In short, they function as intermediaries for your smartphone and (try to) replicate most of its functions.

Granted that most wearables are at its infancy stage, most smartwatches appear to be made out of the same mould.

Until you meet the Token: a wearable wallet on your wrist. 

Seattle-based product design studio Artefact's conceptual mobile wallet, Token, allows you to connect multiple payment accounts to the device, which works via Bluetooth. 

To safeguard the user's security, it comes with three authentication factors: a knowledge factor (password), a possession factor (Token), and an inherence factor (thumb print).

Artefact also said that Token allows you to keep track of your credit limit by checking "how [a] purchase will impact your budget right before you pay", thereby minimising impulsive purchases.

Token users can do any of the following:

1. Make payments

2. Transfer money

3. Receive money

4. Check your account balance

The exact mechanics of how Token will work is still on the drawing board, and a large part of it hinges on a non-existent payment ecosystem.

However, with the limited real estate on my wrist, the Token is a definitely a device I'd want. See the gallery below to understand how Token will work.

grongloh@sph.com.sg

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