Especially I would love to protect children from accidents, pedophiles and bullies. Socrates would tell me that by wearing the ring, I am not at peace with myself because only the one who refused to wear it was morally sound. I will disagree with him and tell him that while it is true that a person with the ring is very powerful and can thus get corrupted but there are some good purposes for which it could be used too.

For example, would it be wrong to say that most of us cannot do positive things like saving another human being from gang attack because we are too weak and powerless. I think it is absolutely true that if we had power, we would like to perform some great acts of generosity and bravery. The ring could give us that power.

The power to become invisible is a great treasure and no one in his right mind...

It is because we are visible and vulnerable to getting hurt that we often stop ourselves from doing things we would otherwise want to do.
Socrates might not agree with me because the probability of becoming corrupt is far greater than the probability of becoming great with this power in hand. Still it would be wrong to judge everyone by the same yardstick and assume that people are generally immoral and unjust. People have been generally good and kind as well. When the power is given to people, many of them misuse it but some actually use it for the good of others. Had this not been so, we couldn't possibly have some great people in the world like Prophet Mohammad, Jesus Christ, etc. These great men had powers but they used it to improve the situation of their people instead of abusing the power and causing harm.