We’ve seen the smartphone wars. We’ve seen the tablet wars. Now it seems that the latest piece of technology that companies are scrambling to make and corner the market on is the smart watch.

There has been a host of news and speculation recently about whether or not Apple (News - Alert) will soon be releasing an “iWatch.” While many anticipate this entry as the technology that will jumpstart the space – as the iPhone (News - Alert) did with the smartphone and the iPad did with the tablet – until it arrives, there are many different companies that are trying to gain traction, including the Pebble watch.

The latest smart watch to debut is called the Pi from Sensorstream, and it has several different differentiators. For one thing, it boasts the first truly circular touch screen. It has no buttons or knobs, and the entire device is controlled via that touch screen.

The Pi also does not require a cellular plan. It is designed to jump on and off wireless hotspots, so no contracts are needed. It has several core functions, including the ability to serve as a mobile wallet. It’s also got social networking functionality, and users can share their contact information with each other with merely a tap of watches. 

One other key aspect of the design is the dual core lithium battery, which ensures that the date and time functions are always working.

“Pi is our entry into the growing wearable consumer electronics market,” Tom Rapko, founder of Sensorstream, commented in a statement. “There are billions and billions of wrists out there, and no other company has a smart watch like Pi on the market. For a robust product with the right functionality, the adoption rate will be huge. I suspect Pi may be the most disruptive technology since the cell phone.”