"With every beat of your heart, the Nymi unlocks a world of possibilities," and developer Bionym means that literally.

The Nymi bracelet makes life easier through a biometric password protection using one's very own heartbeat. The bracelet monitors an individual's cardiac rhythm and considers it as a password to unlock several devices.

In the promotional video below, the Nymi bracelet is able to unlock several gadgets and devices including a user's tablet, smartphone, a personal computer and even a car! The gadget will also enable secure payments and transactions with just a swipe of the bracelet.

According to Nymi bracelet's official website, the device features an integrated motion sensor which allows the wearer to perform tasks such as opening the trunk or the car door and paying for coffee through specific movements or gestures. Though no specific details regarding these gestures have been posted on the website just yet, the video hints on swiping and grabbing motion.

The Nymi bracelet is also activated based on the user's proximity which means wearers will not have to worry about accidentally accessing a tablet in another room or opening the car door in the parking lot outside.

Bionym is also introducing a smart appliance compatible device in the form of the Nymi bracelet. Wearers will be able to control smart TVs and other appliances by merely wearing the device.

According to its developer, this is how the Nymi bracelet works:

"When you clasp the Nymi around your wrist it powers on. By placing a finger on the topside sensor while your wrist is in contact with the bottom sensor, you complete an electrical circuit. After you feel a vibration and see the LEDs illuminate, your Nymi knows you are you and your devices will too. You will stay authenticated until your Nymi is taken off."

The bracelet is now open for pre-order at $79 - but only to the first 25,000 customers. All other buyers will have to purcahse the device for $99. Shipping is reportedly scheduled early spring of next year.