How to upgrade  an old memory chip to fit into a new console or a computer. Maybe you just want a unique USB stick. Anyway the project costs only a few dollars (If you don't have a spare usb drive),  takes only a few tools and small amount of time. I used a PS2 memory card but i'm sure the same steps can be used to upgrade a PS1 memory chip  too.   
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While this is a neat project, you might want to clarify your title.... I originally thought this was for upgrading the memory on an old Ps2 Memory card.
You could probably name it something like Ps2/Ps1 USB memory stick and I think that would clarify the project.

Thanks will do