XRP May be an Official Currency of 2020 Tokyo Olympic Games
The 2020 Tokyo Olympic Games may be special to the crypto community as XRP could be the first in the cryptocurrency history being adopted as the official currency of the 2020 Games.
Ken Takahashi, a Japanese former baseball player has brought up the ideal of adopting Ripple (XRP) as an official currency of the 2020 event and handed in a petition 10 months ago. As of press time, the number of signatures on the petition has garnered over 8,200 signatures which has crossed its 7,500 signatures goal.
Ken is trying to call the International Olympic Committee for concerning the efficiency and need for cryptocurrency adoption during the event as people from all over the world would come to Tokyo which may bring the foreign exchange issue. In order to ease the pressure on the Japanese yen, Ken proposed a system uses XRP.
His petition states that: “As tourists stream into the country, demand for the local currency skyrockets, causing long lines at currency exchanges, as seen at past events like Beijing 2008 and Rio de Janeiro 2016. Confusing exchange rates and language barriers further complicate the problem. We believe that the fast transaction times and security of Ripple Lab’s XRP cryptocurrency would be a great contribution towards solving this problem.”
According to the petition, the main purpose is calling for the XRP as a payment tool to solve the currency exchange problem. In addition, cryptocurrency can solve many logistic issues in large international sports events, for example, the transportation, accommodation and other essential services.
“We believe that the fast transaction times and security of Ripple Lab’s XRP cryptocurrency would be a great contribution towards solving this problem,” Ken added.
From a business perspective, the Ken’s XRP petition shows that the general public hold a optimistic attitude towards cryptocurrency. The international events such as Olympic Games could be a good promotion for XRP and cryptocurrency payments, it will also benefit the development of cryptocurrency and attract more investors to participate in this field.