Another possible solution as of google-cloud-storage gem version 1.27 in August 2020 is documented here. My Google::Auth.get_application_default as in the documentation returned an empty object, but using Google::Cloud::Storage::Credentials.default.client instead worked.
If you get Google::Apis::ClientError: badRequest: Request contains an invalid argument response when signing check that you have dash in the project name in the signing URL (i.e projects/-/serviceAccounts explicit project name in the path is deprecated and no longer valid) and that you have "issuer" string correct, as the full email address identifier of the service account not just the service account name.
If you get Google::Apis::ClientError: forbidden: The caller does not have permission verify the roles your Service Account have:
gcloud projects get-iam-policy <project-name>
--filter="bindings.members:<sa_name>"
--flatten="bindings[].members" --format='table(bindings.role)'
=> ROLE
roles/iam.serviceAccountTokenCreator
roles/storage.admin
serviceAccountTokenCreator is required to call the signBlob service, and you need storage.admin to have ownership of the thing you need to sign. I think these are project global rights, I couldn't get it to work with more fine grained permissions unfortunately (i.e one app is admin for a certain Storage bucket)
config/storage.ymlwasn't set up properly, which caused this error. Slightly confusing because I was able to write to storage no problem, I just couldn't read files and wasn't receiving a 401/403 error. - Josh Bradley