The Ripple (XRP) could be the official currency of the 2020 Olympics?

Crypto News

Interesting news shakes the cryptocurrency community. A petition for the use of the Ripple XRP token as the official bargaining chip of the 2020 Olympics has just collected over 11,000 signatures and will soon be presented to the Tokyo Olympic Games Committee for approval.

A petition for the use of cryptocurrency

In less than two years, Tokyo – the capital of Japan – will host the XXXII Olympic Games summer. The country is already active very seriously in the preparations.

The demand for local currency (the Japanese yen) will increase significantly, with the influx of tourists from around the world attending the biggest sporting event so coveted.

10 months ago, Ken Takahashi, a former baseball player has petitioned for Ripple’s XRP to be the official medium of exchange for the Tokyo Olympics, both to support the Japanese yen and to minimize the inconvenience that could occur during such an event. international scale.

“As tourists flock to the country, the demand for the local currency is skyrocketing, causing long queues at the exchange offices, as seen at previous Olympic Games, reminiscent of those of Beijing 2008 and Rio de Janeiro 2016. The confusion of exchange rates and language barriers add to this problem. “

The choice of the Ripple XRP token

The choice of XRP is obvious for Takahashi. Fast, cheaper, cryptocurrency based on the Ripple Blockchain is easily convertible into currency. It perfectly meets the needs of international visitors during the Olympics.

“Money transfer tests between the United States and Mexico have shown that waiting times for XRP transfers can be a few minutes and that they cost relatively less than sending cross-border money conventional. Not to mention the fact that it could save money on exchange fees. The more people can easily access their funds and convert them into local currency, the more they can spend easily, “says Takahashi.

This would be a first and shared success for the cryptocurrency ecosystem if Takahashi’s petition were approved . At the time of writing this report, she has only a few signatures left before she can officially present her to the Tokyo Olympic Committee.

What do you think of XRP becoming the official currency of the 2020 Olympics? React in the comments section!

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