In my opinion – Yes, now more than ever. Look at the following YbCoin has gotten. It looks a lot like PPCoin. I am all ears for anyone who wants to describe the material differences, but the biggest one I see is a coin that has had much exposure in China.
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China historically has wanted to to control the flow of money around and (more importantly) out of the country.
The China Central Bank has to make a decision very soon: be on the world stage with a free-floating currency (and potentially become part of the SDR), or keep doing what has been done for decades.
Their reserves are dropping fast as they are trying to control the rate of devaluation. They have manipulated the HK-based HIBOR rate to keep the spread between CNH and CNY reasonable.
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Any state-controlled crypto would be run to serve the rule of the party. For the people in-country, a currency that is based on what is familiar, but has global reach and not the expense / overhead of mining or volatility could be key.
However it is not as straightforward as “build it and they will come” – there needs to be some way to inform the market of Nu’s existence.
I do think that there are those familiar with the situation in China on this site. I hope there is some way to cross the language barrier and inform the community with their better perspective.
