Petition for XRP to become the official Olympics currency gains popularity

08 Oct, 2018
by Richard Allen
News
Petition for XRP to become the official Olympics currency gains popularity

As the 2020 Winter Olympics approaches, Ripple’s community has revived an old petition to make XRP the official currency. Originally launched over ten months ago but met with little enthusiasm, the petition has taken off after going viral this weekend. At the time of writing, there are 9,679 out of 10,000 signatures.

“While this global event presents great cultural and economic opportunities, hosting countries also face many challenges concerning infrastructure, transportation and payment systems,” the petition reads.  

“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.”

CryptoGlobe reports that if the petition succeeds in its ultimate goal, it would make for an important use case for the currency. However, competitors like Dash and Bitcoin Cash have been far more focused on merchant adoption, meaning that Ripple is lagging behind on that front which may impact its viability as the official Olympics currency.

As compelling as the petition creator's, Ken Takahashi's argument is, it’s more likely that Ripple, or any crypto for that matter, will need a paid sponsorship before it’s listed as the official currency of the Olympics, something that will carry a hefty price tag.

Still, one can't argue that the addition of a cryptocurrency would make the lives of frustrated travellers a little easier. 

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Read more about: Ripple (XRP)

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