By: Charles Barker July 1, 2014 0 Comments

We don't know when or if Apple's rumored gadget will come out, but if it does, expect a major lifestyle change.

Apple's iWatch has been on our radar since the company introduced the 6th generation iPod Nano in 2010, a device that featured a small 1.55 multi-touch screen with a lower resolution of 240×240 pixels but a higher pixel density of 220 pixels per inch. Stripping away the video camera, voice recorder and most importantly video playback, the tech heads in Cupertino added an FM tuner and fitness app (pedometer). Its portability and fitness potential made it an ideal companion.

While not specifically designed as one, some accessory makers produced watchbands for the 6th generation Nano, allowing it to be worn like a watch. We purchased one and used the Nike+ app and music player on our morning runs through the park. It was a perfect marriage of convenience and functionality, with its ability to be worn like a watch and used as an iPod. Despite our love for the product, we wanted more.

The inability to wirelessly sync music and exercise progress left most Nano users looking at Apple quizzically like they forgot the most important feature. Since it wasn't designed as a arch, we forgave them and looked forward to the next generation of the Nano. The 7th generation dropped two years later but failed to expand upon the potential for a watch. As a result, we moved on to such products as Samsung's SMV700 and Under Armor's A39. Even Nike went in another direction and decided to create its own Nike+ Fuel Band, a physical activity tracker on your arm minus the benefits of listening to your favorite music.

As the Nano product cycle comes to an end and we eagerly await Apple's announcement of the next product line, there has been quite a bit of speculation as to what the iWatch will have in store for us. On that note, we checked out the rumors and have a couple different ways such wearable tech could change your way of doing things.

A wallet on your wrist

It's been speculated that the new iWatch will be used as a wallet, seamlessly integrating your financial information. We've seen it in sci-fi shows like Continuum. Now technologist Tim Bajarin speculates that Apple's iWatch will incorporate the use of RFID's to transmit financial information to vendors.

Disney's MagicBands use the same technology to act as a one stop shop for everything you need to do within Disney World parks, hotels and restaurants. The MagicBand acts as a digital ID you wear around your wrist to make purchases, enter your hotel room and track your movements throughout the park

We've seen Amazon introduce purchases over mobile devices with the Fire. Now Apple may take it a step further by making purchases with a swipe of your wrist. This technology isn't new; it's been around for the last 10-15 years. Manufacturers use it to track products. Meanwhile, shoppers can use their credit cards with a single tap, so why wouldn't Apple incorporate it into its iWatch?

A Healthkit on your wrist

Apple announced a new app called Health at its WWDC 2014 keynote. As part of a suite of new apps for the upcoming iOS 8, the Health app is your hub for all of your data. It reminds us of the Life Alert commercials, where if you experience an accident it will alert someone that is knowledgeable of you health history and send someone to assist you.

Incorporating Apple's HealthKit service can have a profound impact on the way people monitor and track their health in realtime. Healthkit is designed to work with third-party health peripherals and medically-issued health data. The application will knit data from separate apps and even fitness accessories into one area. Monitoring individual health parameters like blood pressure and contacting a hospital if your readings get too high could save countless lives. Using such technologies within an iWatch will have a profound impact on how health issues are handled across the globe.

We listed two ways the iWatch can change our lives. If you have any other thoughts or ideas, share them in the comments below.

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