An insightful article which I have yet to cross-validate with other sources. Times India.

It seems however to be old news.

First the luggable token (in the form of a USB stick or keyring), and then the ring you can wear, and likely in decades to come the token you can bear. This is reminiscent of my first iPlant scenario in my TEDx talk.

"Since passwords have become an increasing problem for many, Google could be set to replace them entirely and is experimenting with USB keys, mobile phones and even jewellery that can act as a physical "key" to give users access to their account. 
The search giant's security bosses are set to publish their findings next month and say they could soon be commonplace. 
The Yubikey, which is believed to have been tested by Google, can automatically log users onto all their accounts without ever asking for a password by placing it into a Google laptop. 
The tiny key can be used in any machine with a USB drive, and acts as a physical "key" to unlock the user's account
It can automatically log users in to all of their accounts, and even into their favourite websites, without ever asking for a password."

...

"The firm is also believed to be experimenting with wireless chips that are already built into some mobile phones, and can even be built in jewellery. 
'We'd like your smartphone or smartcard-embedded finger ring to authorize a new computer via a tap on the computer, even in situations in which your phone might be without cellular connectivity,' the team write."

Here is another source I've just found.

"In a new research paperto be published in IEEE Security and Privacy Magazine later this month, Google Vice President of Security Eric Grosse and Engineer Mayank Upadhyay have outlined future methods for logging into websites, voiding the need for passwords.
Google are currently experimenting with the Yubikey, a tiny Yubico cryptographic card, which will automatically log the web user into Google when slotted into a USB card reader, and although Google have had to adapt their existing web browser, there will no software downloads required. The user simply needs to log into the website, plug in the USB stick and then register it with a single click of the mouse.
The Yubikey will then be used in a similar way to a car or house key, which provides the main problem with this technology. Although it will drastically reduce the chances of your accounts being hacked; if you lose it, you have to report it missing/stolen immediately, and then have it replaced."
Courtesy T3

Courtesy T3