Blockchain-based AI infrastructure startup HyperCycle.ai has made a splash in the wearables market with the launch of its new HyperRing. It's an aesthetically pleasing, battery-free device that uses near-field communication technology to enable cryptocurrency payments and securely store user data in a decentralised way.

The company explains that the first HyperRings were distributed to delegates and attendees at the SuperAI conference in Singapore on 5-6 June, offering them a way to "secure the wealth of the AI economy".

HyperCycle's "AI Ring" is a significant expansion of its original vision of creating an "Internet of AI" after a long period of development. The company is best known for its ledgerless blockchain architecture, which aims to democratise AI by providing a powerful network of fast, secure computing resources.

HyperCycle's vision is to build a lower-cost compute resource for AI developers so they don't have to rely on centralised cloud infrastructure providers or buy high-end servers themselves.

To achieve this, it creates plug-and-play dedicated servers, HyperAiBox, that allow users to set up and run a distributed network of nodes that provide computational power to AI models by working in concert with other nodes. Users can also connect third-party hardware to the network. Node operators earn cryptocurrency rewards by providing computational resources to the network.

In line with this vision of a decentralised AI future, HyperCycle believes that its community needs to better protect the rewards they earn from this new economy.HyperRing combines sleek aesthetics with powerful utility, enabling users to protect their AI and crypto assets with advanced crypto technology that they can take anywhere.

The HyperRing relies on NFC technology for communication, but unlike other types of "smart rings," it doesn't use a battery or have any sensors, so users never have to recharge the ring and can be confident of its high level of security.

The company says: "HyperRing provides an additional layer of security for users on the AI platform that generates, stores and consumes digital assets, utilising NFC and MFA (Multi-Factor Authentication) to prevent data theft, identity theft and impersonation."

HyperCycle, which has spun off HyperRing as a separate entity, said the wearable device combines convenience with security, enabling people to conduct online or on-site transactions with greater security. In addition, HyperRing can store confidential user data, such as health records, which users can then share as necessary, while keeping that information safe from prying eyes.

The company says its novel security mechanism uses the Earth64 data structure and supports decentralised authentication, similar to Apple's Face ID but more secure than the hack-prone iPhone. Users can buy HyperRing outright, and the company also plans to offer a white-labelled version for companies that want to brand the product and give it away to customers.

Toufi Saliba, HyperCycle's founder and CEO, said he believes that most of the new wealth creation in the future will come from AI systems. As a result, his "priority is to ensure that those involved in the operation of AI systems are able to secure their wealth using top-notch technology while remaining inconspicuous, stylish and convenient."

The HyperRing launch comes shortly after HyperCycle released a new SDK for developers looking to build intelligent decentralised applications on top of its AI network, which is seen as a key component of HyperCycle's ecosystem to keep users safe from cyber threats when interacting with AI-powered applications and services.

HyperRing CEO Joy Zhang said the device represents "the perfect intersection between human-centred design and a user-centred commitment to privacy and security".

The company handed out the first HyperRings at the SuperAI conference in Singapore and is now planning a global rollout that will begin in South Korea later this year before expanding to other countries.