The Modbo Modchip for Playstation 2 is a clone of the old dot matrix infinity chips from back in the day. While those original chips are long out of print, The modbo is still easily obtainable.
These chips will give you the ability to natively play games from any region and boot backup discs, This applies to both Ps1 and Ps2 games.
While I do intend to do videos for all of the different Modbo installs in the future, for now here's a very solid collection of written guides / diagrams from William Quade.
Mobdo Modchips have the option to use a custom Bootloader to launch into various homebrew applications. for this you'll need to setup the system files here