LOL for the imagine of South Africans rands!

Well open source technology is always going to encourage imitation and copycats some do it for purely driving the tech forward and creating superior products through competition while others just want to make a quick buck

This isn’t a new user behavior it was almost identical to the .com rush back in the early 90s and people said it was a bubble and look today the biggest companies in the world are online tech companies after it went thorough its massive down the correction weeded out the poor quality players and I expect the same to happen with cruptocurency

As for state backed projects I don’t think they will take off because cryptoss appeal is that the tech and the network will continue to product value and improvements a state backed crypto will rely on the backing of government assets and debt like fiat is so why even use crypto?