Ripple could blow up before the 2020 Olympics

Cryptocurrencies have brought in a lot of innovation in the transactions we use daily. They have given us more options that are trusted and easy. No wonder that large corporations have started to pay really big attention to them. The “Corporation” we’d like to mention today is the 2020 Olympic Games, which has already created its own digital payment method. What’s best is the fact that it is recognized by every participant and their respective countries.

The 2020 Olympic Games didn’t really think too much about the currency they will be using, because they will have to pay attention to the petition that Ken Takahashi has created on Change.org to make Ripple the official currency. Ken Takahashi is no ordinary Japanese person, he has a large following due to his former career in baseball. The goal, for now, is not that big, only 7,500 which is still enough to get the attention of the Olympics board. As of now, the petition has about 6,000 signatures.

Ken Takahashi is trying to reach the IOC (International Olympic Committee). His main argument is that the traditional way of doing the business has way more problems than the use of Ripple could potentially have. For example, he has already stated that tourists funneling in the country create demand for the local currency, which disrupts the market and makes some of the tourists pay way more for their stay in the country than the ones who came early. With Ripple people will not have to be even bothered by the huge lines in currency exchange spot, further improving the customer experience for the IOC.

Takahashi has clearly stated the fact that he is a devoted supporter of the cryptocurrency industry. He has also announced that not only the entertainment industry but numerous others like transportation and even infrastructure can easily benefit from the speed and usefulness of cryptocurrencies. However, Takahashi is still staying true to his word and promoting the use of  Ripple because of it’s convenience and not because of the fact that he’s a holder.

The reaction of the ICO is yet to be seen because the petition still has some ground to gain. However, the future of Ripple can be bright either way.

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Konstantin Rabin

About the Author: Konstantin Rabin

Konstantin has been working in the financial services industry since 2011. He is over-viewing various updates in the technology, regulation, and market movements. He's passionate about games and has a cute cat named Dog.

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