Hi! I'll answer each of your questions in turn.

Firstly, Tangem is indeed developing a wallet in the form of a ring - however, there is no clear release date, and from what we understand it will be much more expensive than RingWallet. Additionally, our unique implementation of Shamir's Secret Sharing for wallet backup is a crucial feature that only RingWallet supports.

Secondly, the chip used inside the ring is manufactured by NXP, which is the leading semiconductor manufacturer for bank card chips. Their chips are used in billions of bank cards around the world, and it is not open source. However, they have never been involved in any cases where the security of the chips have been breached, and they actively spend many millions each year making sure the chips are bulletproof.

Thirdly, there's arguments to keeping some wallets at home and others with you. Personally, I have had several hardware wallets for many years - some come with me everywhere, while others stay at home. However, RingWallet is indistinguishable from any other ceramic, non-smart ring. If the ring is stolen, your funds remain safe.

Finally, yes the chip communicates with your phone using NFC. We are aiming to onboard a lot of new people into the space as well, and the vast majority of the population is used to tapping their card to pay for things - so it makes sense for them to tap their wallet on their phone. Communication is secure and encrypted, but I understand why you might prefer a different communication method - it's all about preference, which is why more competition in the hardware space is a positive for the industry and for the user experience.