Steve Gibson a security researcher have come up with a very interesting idea for authentication.
It is really really awesome!

I see great prospects to use this together with the NFC Ring, and I can highly recommend checking out his research about this new system.
The system is simple so simple you will go like 'Why have this not been made yet?'.

My idea is using the NFC Ring as second auth. To the SQRL system, to prove you are you to your phone SQRL app.

https://www.grc.com/sqrl/sqrl.htm

Here is a long video segment where its all explained by Steve Gibson himself:
http://twit.tv/show/security-now/424