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2020 Olympics could Hand Ripple the Gold

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Ripple 2020 Olympics

Gold, silver, bronze, and cryptocurrency may make an appearance at the 2020 Olympics. Ripple, in particular, could be a winner.

At least, that’s the goal of a petition by Ken Takahashi, which has now collected 10,000 signatures to make this a reality.  In fact, it just hit 12,356.

“Make XRP the official cryptocurrency of the Tokyo Olympics 2020!” 

According to the petition, “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.”

Should this become a reality, Ripple would be in the global spotlight, and perhaps see a quicker path towards global adoption.

Ripple is a Game Changer

Ripple experienced an incredible year so far.

While it’s price should be a bit higher, it’s adoptability soared.

SBI Ripple just launched its blockchain-based money remittance app that may dominate Japanese bank transfers.  The app, referred to as MoneyTap assists people to make real-time, free domestic transfers.  This is accomplished by using Ripple’s xCurrent payment solutions.

Furthermore, the xCurrent network, built on Distributed Ledger Technology (DLT) helps facilitate quick payment settlements and end-to-end tracking.

In fact, in Japan alone, 61 banks support the new application.  Some of those banks include Suruga Bank, SBI Net Sumishin Bank and Resona Bank.  With the technology, banks can perform cheaper, quicker transfers between other banks, for example.  All with the use of a QR code or a recipient’s phone number.

The Banco Santander Catalyst

Additionally, Banco Santander launched a mobile payment solution.  This platform is powered by RippleNet, as well.  It is big for three reasons. One, Banco Santander is the world’s ninth largest financial institution by revenue. Two, it’s the biggest bank in the Eurozone.  Launching its own blockchain solution is significant news.  It’s a catalyst that could very well spearhead the adoption of blockchain in the financial sector.

Adoption by the 2020 Olympics could hand Ripple the gold.


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