Korea's 'poop-coin' project got flushed in February, inventor reveals
There wasn't enough interest in the project, and it wasn't able to stand on its own, the Korean professor behind the Beevi project said. The South Korean government has put the lid on a science program that created toilets designed to turn human waste into electricity, heat, and digital currency.The Science Walden project was revealed in July 2021 to the amusement of the crypto community and the wider public alike — introducing the “BeeVi” toilet which turned human excrement into methane gas and rewarded its “depositors” with a digital currency called Ggool.Speaking to Cointelegraph,....
Related News
South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. Central Bank of Korea to Launch Pilot Platform for CBDC The tech supplier will be chosen through an open bidding process, Bank of Korea (BOK) announced Monday. Its task will be to set up a pilot platform for the launch of the South Korean central bank digital currency....
Regulators in South Korea have issued a new report that offers a bevy of recommendations for how to properly govern the country’s crypto industry. A report commissioned by South Korea’s federal government recommends the domestic crypto industry adopt a licensing system for exchanges and token issuers as a way of protecting investors.The report issued by the Financial Services Commission (FSC) to the National Assembly, the country’s legislature, also calls for new regulations to mitigate insider trading, pump-and-dump schemes and wash trading.The new regulations would be stricter, and the....
Data shows the Bitcoin crash from a few days ago flushed out $5.4 billion from futures open interest within the matter of hours. Cascade Of Long Liquidations Lead To 24.5% Reduction In Futures Open Interest As per the latest weekly report from Glassnode, when the price of Bitcoin crashed down to $42k a few days […]
Crypto analytics provider Glassnode argues the late February BTC crash may have been a healthy reset that flushed excessive leverage out of the market. According to on-chain analytics provider, Glassnode, the late-February crypto market correction may have purged excessive leverage from the markets.On March 1, Glassnode published a report analyzing the recent crypto crash — which was only the second significant crypto correction since the markets pushed into new record highs in late 2020.Glassnode noted the crash peaked with a 25% fall from the local top of $58,300 to $43,343. As such, the....
Started by the end of July 2021, the Bank Of Korea central bank digital currency (CBDC) project has been gaining traction. Per a report by the Korea Times, the project will be aided by electronics company Samsung. The company and the financial institution will build the platform that will support the CBDC. In addition to Samsung, the Bank of Korea has brought in other partners from the private sector, such as Ground X, a blockchain-based division from another company called Kakao. The Times cited a source on an executive position to support its claims: Samsung Electronics has recently....