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In July, 2021, a community of active scientists named Science Walden brought a weird project. The project named ‘BeeVi’ toilet proposed to use human waste. People behind this plan thought to turn human excrement into methane gas. The energy would generate electricity and heat and eventually it will create value. In return, people would also get rewarded for their contribution. However, recently the project was reported to come to an end after the South Korean government asked to shut it down.
One of the lead scientists at Science Walden and Professor Cho Jae-woen disclosed that in February, 2022, the project was halted. Closing down of operations included the development of BeeVi toilet and related digital currency Feces Standard Money (FSM) named ‘Ggool’.
Professor Cho said that his project under Science Walden and the community itself closed down in February. He also mentioned that a handful of such toilets developed under the BeeVi project exist inside the Science Cabin campus of Ulsan National Institute of Science and Technology. However, Cho thinks they are the only remaining part of their project.
Soon after the project’s announcement, many people showed interest. They were comfortable to contribute and earn the rewarding digital asset Ggool. Since the energy generated due to the BeeVi project was allocated to the University, the currency was also liable to be used within its campus. Currency holders could use it to buy coffee, snacks and other goods inside the University itself. However, there were no indications of Ggool to get officially used within the marketplace.
Ths digital asset was unique in terms of its value and use case. Ggool was designed in such a way that it would be generating a negative interest rate of 7%. This way it would have made no sense to hold on the currency. The motive was itself only to make users use the currency regularly and currency would stay in liquidating form most of the time.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
