Petition Attempts to Make XRP Summer Olympic Official Cryptocurrency

With the logistics surrounding the Olympics being an arduous ordeal, Ken Takahashi, created a petition for the International Olympic Committee (IOC) to make XRP the official cryptocurrency for the upcoming 2020 Summer Olympic games. The petition has already received over 8,000 signatures.

One of the reasons Takahashi has moved for the Olympics to adopt the cryptocurrency is due to the strain that will placed on the Japanese Yen. He claims that in the past games, tourist have had issues understanding, congestion receiving, and inflated the local currency.

The petition reads:
“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.”

With the recent announcements coming from Ripple, the petition seems to be gaining steam. Recently, Rippled launched the app MoneyTap, which allowed customers to settle transactions instantaneously, and is powered by Ripple’s blockchain technology. Ripple and SBI Holdings are the developer behind the blockchain remittance platform.

Takahashi sees the MoneyTap platform giving people attending the event the world round, to use the XRP digital asset to make purchases during the Olympics. This will lighten the load carried by the Yen.

Ripple’s XRP would see the third ranked cryptocurrency, by market cap, be bolstered as the company is branching off into different directions around the world.