XRP Latest News: There’s A Petition To Make XRP The Official Crypto Of The 2020 Olympics
Just when you thought that XRP cannot go any further for the moment, here’s some more exciting news about the digital asset. About ten months ago, Ken Takahashi started a petition on Change.org to make XRP the official crypto of the 2020 Tokyo Olympic Games.
Now, the petition has more than 5,400 signatures out of a needed 7,500.
After it was created, the petition managed to reach 500 signatures with relative speed and then jumped from 500 to 1,000 in less than 72 hours.
This was reported by Takahashi who is a resident of Japan and posted the announcement on the petition page.
After that, the number jumped even more to 1,500 signatures in less than one day.
XRP is excellent for real-world use cases
Takahashi started this petition in order to try and solve the problem of so many international visitors who are flooding into a country in which they are not using their own currency.
They have to exchange their currency and use the one from the country that they’re in.
“As with the Rio Olympics in 2016, people will flock to Tokyo from all over the world to witness, cover, and participate in the Olympic games,” CryptoSlate reported.
“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,” Takahashi wrote.
He chose XRP as the preferred option because of the ease with which it facilitates cross-0border transactions. Ripple just launched its xRapid product.
xRapid revolutionizes the finance world
Ripple’s product xRapid could revolutionize the way in which financial institutions handle their international money transfers.
Using the network’s native coin XRP, xRapid manages on-demand liquidity. But what’s more important is that the product’s rollout has proven a real use case for the cryptocurrencies.
XRP solves both the speed of the transactions issue and also the costs involved in cross-border transactions.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.