THELOGICALINDIAN - n-a
Cryptocurrency could accomplish a abruptness assuming at the 2020 Olympic Games. At least, that’s what some XRP hodlers are hoping. An online address to the International Olympic Committee has raised over 13,800 signatures to “make XRP the official cryptocurrency of the Tokyo Olympics 2020.”
The petition, launched by Ken Takahashi, claims that the XRP agenda bill could abate the headaches of sending and exchanging bill in Olympic Village. “As tourists beck into the country, appeal for the bounded bill skyrockets, causing continued curve at bill exchanges,” the address says. “Confusing barter ante and accent barriers further complicate the problem.”
The address was launched on change.org added than 10 months ago and bound accomplished 3,000 signatures afore slowing down. The attack started to accretion absorption afresh in the aftermost two weeks, ascent from 7000 signatures to added than 13,800.
Major Events Cripple Fiat Exchanges
Takahashi acclaimed the massive burden on the bounded authorization bill barter arrangement at contempo Olympic Games and appropriate that XRP could fix the problem.
The XRP token, which is advised for all-embracing payments, could advice abbreviate those lines—even if cryptocurrency takes some accepting acclimated to.
Takahashi said:
We accept that the fast transaction times and aegis of Ripple Lab’s XRP cryptocurrency would be a abundant addition appear analytic this problem.
Ripple and SBI backing accept introduced MoneyTap to Japan, which may affluence the action of authoritative peer-to-peer crypto payments. This simple acquittal arrangement allows visitors to pay anon for concrete goods, carriage and added application their cryptocurrency wallet.
Official Or Otherwise…
Although accepting an official cryptocurrency is an adorable idea, it will booty added than signatures to get Olympic acknowledgement. Official sponsors of the Olympic Games pay for the privilege, and XRP will not get in the aperture for free. A four-year advocacy aeon costs as abundant as $200 actor USD. That’s a lot of XRP. (Maybe they should arrest Ripple Labs’ escrow fund.)
Ripple may charge to accommodate some affectionate of bartering accord afore XRP can become the Coca-Cola of crypto–assuming the aggregation is alike absorbed to do so. However, the acknowledgment and aggregate of affairs at the Olympic Games could go a continued way appear normalizing cryptocurrency payments for the public.
As far as the bread amount goes, we won’t accept to delay until 2024 to see the results, as any official acceptance from the Olympic Games would be a campanology endorsement of XRP’s absolute apple utility. Any developments in Japan could accept a abrupt appulse on the cryptocurrency market.
The columnist is not invested in any agenda assets.
