Ripple could become the official currency of the 2020 Olympics

A petition on change.org to accept Ripple (XRP) as the official cryptocurrency of the 2020 Olympics has received 5,500 signatures.

Ken Takahashi, who published the petition, believes that the XRP coin has every chance of becoming the official currency of the Olympic Games, which will be held in Tokyo in the summer of 2020. When the number of signatures on the petition reaches 7,500, Takahashi intends to officially submit it to the organizers of the Olympic Games.

“With the influx of tourists, the demand for local currency is growing rapidly, and long queues form at currency exchange offices, as could be seen in Beijing (2008) and Rio de Janeiro (2016). Different exchange rates and language barriers further complicate the problem,” the petition states. 

The use of cryptocurrency at such an event could speed up its adoption, given the number of people who will attend the Olympics. According to Takahashi, XRP is most suitable for these purposes, given its efficiency and speed. The xRapid system works and can help ensure the Olympic Games are a top-notch event, especially since people typically try to buy local currency with hundreds of other national currencies.

While the approval of this particular petition may not impact the adoption of cryptocurrencies around the world, it will be an important sign that people are looking to implement blockchain payment systems during such events.

An official cryptocurrency will provide stability and efficiency in currency exchanges and will speed up millions transactions.

According to https://zycrypto.com