Pretty much everybody has heard of the 2020 Tokyo Olympics by now. Olympics are always such a hassle for the host, but almost all the time they manage to turn a profit no matter the cost of the whole ordeal. However, there are people in the world who believe that even more profit can be made from the Olympics without damaging the customer experience.
It has been reported by ForexTradingBonus.com that Ken Takahashi is leading a petition for making Ripple as an Official Currency at the 2020 Olympics games. Takahashi has already commented that the reason he is doing this is for the benefit of the Sports industry in Japan. He himself is a former professional Baseball player and has already given insight about how the industry could be changed with the help of cryptocurrencies.
The main arguments that Takahashi brings to the table
– The chaos that an influx of tourists brings to the currency. Because of this not only will the Japanese people and economy receive some problems, but those traders who are holding positions with the Japanese currency. In Takahashi’s words, too much demand will surely outweigh supply, making exports in Japan cost way too much. It is also important to note that a large percentage of the Japanese economy is dependant on exports, therefore making it quite a hard hit to its economy should the above-mentioned event take place.
– The usefulness and speed of modern cryptocurrencies. Takahashi has also highlighted how beneficial it will be for the customer experience on the Olympics to spare them huge lines at exchange booths. It is true that during the past events large lines were created at exchange booths and language barriers made them even slower.
The fact stays the same, however. The petition is still inching towards 7,500 signatures in order for the IOC (International Olympic Committee) to give it some thought. The news that has been popping up about this particular case is sure to boost the petition, because of all the Ripple holders who will be rushing in to make a profit.
Talks had been already in motion since December 2017 on the XRP community website urging readers to sign the petition and trying to predict the outcomes for the cryptocurrency market. The petition is only supported by a number of organizations: Finq, Trade.com, and many other crypto brokers and exchanges.
No matter the outcome we believe that the information being spread will affect Ripple in the upcoming 2 years before the 2020 Olympics. In case of the petition bearing fruit, a lot of investors will probably have the best gift they could have ever wished for. Regardless, we wish Takahashi success in his endeavour to bring stability to a country soon to be stomped by hundreds of thousands of sports tourists.