The Petition For XRP At Tokyo’s 2020 Olympics Gains 10k Signatures

by | Oct 9, 2018 | Cryptocurrency, Cryptocurrency News

XRP | Olympics | Tokyo 2020 | Petition

Cryptocurrencies and blockchain technology is slowly and steadily climbing the ladders of mainstream adoption. While some hope the day soon arrives, some still remain skeptical about the scenario. In a surprising twist of events, a petition that requests Ripple’s XRP to become the official cryptocurrency of Tokyo’s upcoming Olympic event has been gaining a lot of attention recently.

Ken Takahashi, a user on  Change.org, a popular petition hosting service, created to a campaign titled “Make XRP the official cryptocurrency of the Tokyo Olympics 2020!” about 10 months ago. At first, the petition did not create more than a few ripples, even the token was nearing its all-time highs. But, over the past few days and weeks, the petition is suddenly gaining notice and fame, the campaign has even crossed over 10,000 bona fide signatures by the time of writing.

Why XRP at Olympics

The petition explains in the logic behind the movement, though hosting Olympics could be considered an ultimate honor, it does take a subsequent toll on the host country’s economy and infrastructure. The recent Rio Olympic games in Brazil saw the country spending billions of dollars to ensure a spectacular show. To this Takashi says that the true issue is the fluctuating exchange rates due to the influx of buyers. He added:

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.

Particularly observing that the Ripple Labs, the company behind XRP, is currently exploring a variety of cross-border payment, foreign exchange platforms with Xrp at its core. Xrp sounds like the perfect solution to curb the stress on a country’s fiat and economy during an event as grandeur as Olympic.

XRP raises mixed emotions in the crypto community, some adore it and some hate it. The platform is still in the baby stage and has a long road ahead. To put things in perspective, using XRP for an event as big as the Olympics might not be that great a plan as it is currently lying low in terms of mainstream adoption. Although the Olympics is 2 years away and maybe till then XRP could drastically change its standing in the market and in the eyes of institutional investors.

Read more:  World Trade Organization Favors Ripple, Blockchain While Highlighting IOTA, Bitcoin And Ethereum

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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