Smart rings are not completely new. We have seen a bunch of them in the past. The Ring by Logbar happens to be a wearable device that lets you control things with gestures. You can control your home appliances and apps through gestures. The device lets you finish payments, transmit text, and stay on top of latest alerts. It provides vibration and LED alerts to inform you when you have a new message.
You wear this like a real ring but will be able to control things with gestures. The Ring is Android and iOS friendly. It will have its own app store. The product is getting support on Kickstarter right now.