Is the world ready for the Swiss Army knife of USB sticks? LogmeOnce, a new Kickstarter project that’s aiming to raise $50,000 for its multipurpose USB stick, is betting that it is. LogmeOnce is a USB attachment that will not only securely store and encrypt your data but will also act as a secure password vault and a phone charger.

When it comes to password security, LogmeOnce works like a lot of other password services such as 1Password and LastPass that store all of your passwords for all your most important websites and only require you to remember one master password to unlock them. This master password is also used to protect the contents of the USB stick to prevent any unauthorized users from accessing its encrypted files.

Owning a LogmeOnce USB stick will also give you access to the LogmeOnce online dashboard that lets you regularly change up your passwords and to make them as complex as you want without worrying about having to actually memorize all of them.

In all, LogmeOnce isn’t doing anything revolutionary as far as functionality goes but it is doing something new by bringing all of these different functions onto one small device.

A video demonstration of LogmeOnce follows below.