This is the way the rings are made in most segmented turned pieces. An over sized hose clamp or even rubber bands can be used to hold the blocks together while the glue dries.
This is how my rings are made. Note that the joints are at an angle and not perpendicular to the axis. To cut the blocks with this grain orientation and perpendicular joints would be costly and wasteful.
The problem with this configuration is that clamping in the usual way makes the ring cave in as shown.
To prevent this, I use dowel pins. The following sequence shows how.
This home made clamping fixture allows me to adjust the pressure on each joint and holds the piece flat. Plastic bags prevent sticking.