IBM Created Smartwatch with Digital Crown Long Before Apple?

Looks like the concept of the smartwatch is much older than we all have thought. According to the video, which I managed to find on 9to5Mac this morning, back in 2001, IBM created a kind of smartwatch with small black-and-white display with touch input and something very similar to Apple's Digital Crown. The video is available below, so take a look and tell me what you think.

In a short clip you can see a device with touch display. According to what the presenter says, on the screen, one may find four virtual buttons. Two of them are responsible for navigation through the menu and two can be used to open applications the user assigns. Apart from apps, IBM's smartwatch can boast of calendar and probably some other features not shown in the video. What I want to point out is that the interface is pretty much user-friendly and intuitive, especially if to keep in mind that the device was developed in 2001.

What I can say now? It appears that neither Google, nor Samsung, Microsoft and Apple can call themselves the inventors of the smartwatch product category.