The novel device called 'Ring' allows users to control anything they want, by wearing it on your finger, it creators said.
Using the device, users can send texts, control home appliances, and even pay bills - all at once and in a flash.
The device resembles an ordinary ring and is filled with sensors and electronics to give it the ability to control devices and render input.
For instance it can enable gesture controls, of the kind available with a special kind of remote, 'TechCrunch' reported.
According to Ring's creators, sensors on board the device can detect even the smallest finger movements and the gadget works with preset gestures for common controls such as calling up messages, playing music or activating the camera.
The Ring also has a pre-set alphabet for text and number entry, and it can pair directly with other Bluetooth devices that are compatible with its software, or to any Wi-Fi device, the report said.