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Cryptocurrency
by ForexNewsNow Team on October 5, 2018

Ripple as an Official Currency at The Tokyo 2020 Games

The Tokyo 2020 Games is going to be the most innovative in the history in regards to its core concepts, which comprise struggling to be the best version of yourself, accepting the other members of a community and being focused on the future. With these three values, the 2020 Olympic Games has a possibility to be the first in its history providing the visitors with the digital payment method.

Ken Takahashi, a Japanese former baseball player came across with the idea of suggesting Ripple as an official currency of the Tokyo 2020 Games. He mentioned several reasons for the advantage of choosing crypto. Since Tokyo is going to host a lot of people from all over the world, this will definitely cause the problems with currency exchange. There is no doubt that nobody wants to spend time in standing long queues to convert their national currency into the local one, as it happened on the previous Olympic Games. Besides that, one of the problems is also extra exchange fees, which can be avoided by enabling digital payment.

Why Ripple?

Nowadays, the payment infrastructure is still crashing some errors and it is not fully refined for global payments. This is one of the reasons why cryptocurrency became so influential and desirable in the financial industry. The Ripple provides frictionless experience to send money globally using the power of the blockchain. With the help of Ripple’s global network, banks and payment providers can process their customers’ payments anywhere in the world instantly and reliably using the digital asset XRP. It can settle payments in 4 seconds, which will make everything easier and faster during the Games. That’s why Takahashi made his choice on Ripple Crypto.

Due to the fact that the petition must reach 7,500 signatures and currently, it has over 5,000, it can not be decided yet if the cryptocurrency is the official currency of the Tokyo 2020 Olympic Games. It is very possible for the petition to reach its plan and Takahashi believes that the Olympic National Committee will present the Ripple as its official, fastest and the most reliable payment method to the participants and visitors of the Games.

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