Or you could use a password and generate a keyfile from text stored on the ring.

Ideally, the ring would have to be at least Ultralight C or Mifare plus as they have encryption. (Perhaps a future upgrade)

Another method may be to access an encryption key online via a password and that is used to decrypt sector stored information on the ring.

A simple and immediate boost to security might be to use information contained on your ring now as password padding.