Iris will not ruin your digital camera or erase data from your SD card. The ring and cap are made out of aluminum (a non magnetic material) The only magnetic parts on Iris are the 8 (3/32” or .09375 inch) rare earth magnets. The magnets are encased by aluminum on all sides except the side that is designed to attach to a corresponding magnet on the opposite piece.
All credible research that has been done on the subject of magnets causing harm to cameras conclusively prove that small magnets cause no harm to camera functions. In order to impact a camera it would take a constant pulsating magnetic field from magnets of considerable size and power to disrupt magnetic functions like shutters and sensors.
SD cards are not ruined by our magnets because flash memory does not store data magnetically.
SanDisk has published a study at the link below:
We are photographers and love all of our camera gear, we would never bring something to market that would ruin any of them. So as we modify and develop Iris we will always make sure that our product does not cause harm to the user.