The consensus so far seems to be that the motion should be limited to the Euro and Yuan. Covering 95% of active markets is likely enough for now as a mere symbolic gesture. I will leave this draft up for the weekend to see if any new opinions arise and then formalize the motion on Monday.
Separate from this motion, I’d like the community to begin thinking of brand names for these new products, as we will inevitably need to refer to those symbolic individual units by a name. There are multiple approaches we could take:
1. Nu-FIAT. - The largest advantage is ease of recognition. The largest disadvantage is the potential for liability issues if the Nu network is seen to be offering a digital “official” fiat as opposed to a token that merely approximates the fiat’s value. This naming convention also feels similar to the BitAssets collection (BitUSD, BitCNY, etc.) which we want to avoid comparing ourselves to. Another potential disadvantage would be if users question why NuBits aren’t called NuUSD.
Example: NuEuro, NuYuan
2. LOCATION NuBits - When you hear an expert talk about “the dollar”, it is always assumed that they are talking about the US dollar (USD). It has become the standard. However, there are multiple variations across the world, including the Hong Kong Dollar (HKD), the Australian Dollar (AUD), and the Canadian Dollar (CAD). This naming convention would allow us to keep NuBits as our flagship product, with regional variations to follow.
Example: European NuBit (EUN, ENB, or ENU), Chinese NuBit (CHN, CNB, or CNU)
3. Non-FIAT names. Anything else. NuBytes, NuTokens, etc.
I favor the second approach personally. Talking about European NuBits or Chinese NuBits is simple, avoids direct associations with the fiat currency, and allows us to create new logos with minimal revision. Another added benefit is that www.nubits.com can retain its domain name without losing clarity. All we would need to add are rotating Nu logos across the main front-page block, and minor edits to some content sections.
It is important we get this correct from the start. Darkcoin is undergoing a potential rebranding of its product and there seems to be widespread confusion and disagreement.