The device uses AES 128-bit encryption to protect user data.
US based startup company Everykey has developed a wristband, designed to manage user’s password and access devices.
The wristband uses bluetooth to unlock devices that are password protected, including tablet, computer, smartphones doors, car doors, and bike locks.
Everykey uses AES 128-bit encryption in the device and the wristband, giving it an additional layer of security.
The passwords are not stored on Everykey servers or on the wristband, but can be sent as encrypted information to the paired device which eliminates the chances of data breach.
The wristband can be deactivated by the owner at any point by the accessing the company website and opting for deactivation.
However, security experts raised concern about the wristband if it is stolen or the wearer loses the device.
Wall Street Journal reported F-Secure security adviser Su Gim Goh saying: "A lot can happen between that and reporting it as stolen and deactivated.
"Anyone with access to it will have access to all sites and portals secured by that wristband. The device cannot really tell who is using it."