XRP Could Be The Official Cryptocurrency of 2020 Olympic Games - Ripple News. Sunday, October 7th
Ripple’s XRP could be the official cryptocurrency of 2020 Olympic Games
In less than two years from now, Tokyo – the capital city of Japan – will host the XXXII Olympic Summer Games. And it may come with a surprise for the crypto community, if a petition in Change.org made by former Japanese baseball player Ken Takahashi actually reaches its goal of 7,500 signatures – at the time of writing, it has already more than 7,000.
Takahashi’s petition to the organizing committee of the Tokyo Olympics 2020 is to make Ripple’s cryptocurrency, the XRP, the official digital asset of the event. According to him, the influx of tourists will skyrocket the demand for local currency (Japanese Yen), and it is expected to see long lines at the different exchanges in the city – not to mention the perplexing exchange rates and the difficulties for communication due to language barriers.
He also explained that in order to avoid situations like these, which have already passed in previous events such as Beijing 2008 and Rio de Janeiro 2016, it is necessary to count with a payment system that can guarantee efficiency and speed. And according to him, this system can easily be provided by blockchain payment protocol Ripple, with its cryptocurrency XRP.
“We believe that the fast transaction times and security of Ripple Lab’s XRP cryptocurrency would be a great contribution towards solving this problem,” he said.
Curiously, the petition was started ten months ago, but it has gained momentum in the number of signatures accumulated in the last month. It is likely that with the recent announcements of Ripple in regards of its new products, as well as the fresh launch of the blockchain remittance app MoneyTap – built by the aforementioned crypto startup in collaboration with Japanese financial giant SBI Holdings – Japanese people have become more aware of the cryptocurrency, learning of their benefits and capabilities.
A petition at Change.org has about 7,042 signatures and less than 500 signatures are needed to see Takahashi knocking the door of the International Olympic Committee with the petition, and if approved, it will set a precedent not only for the XRP, but for the whole crypto ecosystem, as it would be the first time a cryptocurrency is recognized as the official digital payment of the Olympic Games.
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