By Nathan Ferguson
The authorities of South Korea have dumped a science project that manufactured toilets specified to create digital currency, heat, and electricity from human waste. A project called “Science Walden” was introduced in July previous year with the establishment of the “BeeVi” toilet. The respective toilet was the one through which the human excrement could be transformed into methane gas and the “depositors” could get Ggool (a digital currency).
Korean ‘Science Walden’ Project Terminated as the Funds Ran out
Nonetheless, Cho Jae-weon – the lead in the Science Walden project – brought to the front that further advancement in the respective program came to a close in February 2022. Thus, the BeeVi toilet as well as its digital Faces Standard Money (FSM) were unluckily terminated following the completion of a 5-year funding plan for the project.
The project lead disclosed that the possible reason behind the discontinuation of the funding is that the funding entities might be thinking that the respective project ought to run itself autonomously.
It was mentioned by Professor Cho that even now there are some of the toilets at the Ulsan National Institute of Science and Technology campus’ Science Cabin. However, that is the only place where those toilets are present at the moment. Since the invention of the project, the consumers of BeeVi have been pleased to get the digital currency “Ggool” (a Korean word’s transliteration meaning honey) as well as tokens in return for providing the university the energy.
The Project Could Trigger a Positive Social Change, Says the Lead
The owners could utilize the respective currency to purchase products such as snacks and coffee on campuses. Nevertheless, from the beginning of this year up till now, the marketplace has been unavailable. Professor Cho elaborated that a positive change could be initiated within the society with both his FSM system and toilet.
Ggool was structured with a 7% interest rate to discourage hodling, signifying that the earners ought to be consistent in their assets’ liquidation or experience the risk of being deprived of the purchasing power.
Apart from that, the earned tokens’ 30% is distributed to the rest of the holders on receiving, as revealed by Professor Cho. In his words, that counts as a currency form that does not back wealth’s accumulation however it is consistently utilized and circulated. Ggool and FSM tokens are not backed by the government or blockchain-based organizations.