This approach tries to avoid hoarding of money by decreasing the value of hoarded money. The concept is part of the idea called "Freiwirtschaft" (German, literally translated Free economy):
https://en.wikipedia.org/wiki/Freiwirtschaft
[0] For the loosest definition of "been around" -- I assume its blockchain still exists somewhere, but their own website links to an explorer that apparently doesn't exist. And their Github repo hasn't been updated for ~18 months: https://github.com/freicoin/freicoin/commits/master
This approach tries to avoid hoarding of money by decreasing the value of hoarded money. The concept is part of the idea called "Freiwirtschaft" (German, literally translated Free economy): https://en.wikipedia.org/wiki/Freiwirtschaft