The short answer is "no". Certainly you could make code complying 240v only circuits but the NEC requires a whole lot of "120v 15 or 20a" circuits in a dwelling. (kitchen, laundry, garage, HVAC service outlets, bathrooms etc). Once you get away from dwellings the number of required 120v circuits drops but there are still a few. (Electrical equipment rooms, HVAC service outlet etc)
There are some legal, industrial situations, where no 120v is required like sewer lift stations that might be 240v corner grounded delta but anything inside a building with habitable space needs a few required 120v circuits.
The color code is really just a problem with the neutral. The NEC finally recognized blue as a neutral in a cord set (just to deal with foreign equipment) but in chapter 3 wiring it has to be white or gray. Ungrounded conductors can be anything but white, gray or green.
