Wearable technology is slowly but surely becoming more capable. While early devices weren't able to do much more than display notifications from a connected smartphone, the current crop of personal gadgets can perform tasks like monitoring your health and even connect to the Internet without piggybacking your phone's connection.

The latest wearable to hit Kickstarter adds a bit more functionality to the wearables industry. Everykey is a wearable wristband designed to replace your keys and passwords with a single device.

The result of more than two years of work, Everykey uses "military-grade encryption" and low-power Bluetooth technology to grant the wearer access to all sorts of things that would normally require a passcode. For example, it can unlock your smartphone (similar to Motorola's Skip smartphone accessory), unlock your password-protected notebook and even grant access to doors, car doors, bike locks and other controlled-access devices.

Its creators say it can unlock an unlimited number of devices with the user being able to customize the range in which it works. What's more, the band is water resistant and only needs to be charged about once a month.

Much like a credit card, it can be disabled remotely in the event it gets lost or stolen. The company promises to overnight you a new wristband at a discount in such scenarios.

Everykey has already raised nearly $55,000 of its $100,000 funding goal as of writing thanks to support from over 800 backers. The $35 early bird special has already been spoken for so you'll need to shell out $50 to get your name on the list for an Everykey in the color of your choice.

Everykey is expected to ship to early backers in March of 2015.