Digital currencies and their underlying technologies are increasingly becoming popular. Without a doubt, this technology is now a global phenomenon. The blockchain space has seen an influx of prominent investors, financial institutions, agencies, and even governments.
The adoption of digital currencies have also increased significantly and they now have numerous real-life uses case and applications all over the world.
Nevertheless, one thing that a lot of people didn’t see coming was the petition for XRP (XRP) to become the official digital currency of the forthcoming Olympic event that will take place in Tokyo in 2020.
Will XRP (XRP) Be the Official Digital Currency for the 2020 Olympics Event in Tokyo?
A campaign dubbed “Make XRP the official digital currency of the Tokyo Olympics 2020” was created about ten months ago. The campaign was created on Change.org – a well-known petition hosting service – by Ken Takahashi. When the petition was created, the value of XRP was close to its peak. Nevertheless, the petition did not gain significant traction.
But over the past couple of weeks, the petition created by Takahashi has gained a considerable level of traction. At the time of writing, the petition has been signed by more than 11,300 people. A lot of people are signing the petition, and the number increases by the minute.
A month after the petition was created, the petition only saw 3000 signatures. However, the inflow of signatures reduced significantly after then. But over the past weeks, the number of signatures on the petition have skyrocketed.
Why Takahashi Wants XRP to Be the Official Digital Currency of Tokyo Olympics 2020
On the page of the petition, Takahashi stated the reason why he wants XRP to be the official cryptocurrency of Tokyo Olympics 2020. He said while the Olympics present great cultural and economic opportunities, the hosting nations usually encounter a lot of challenges concerning transportation, infrastructure, and payment systems.
As visitors and tourists come into the nation, there is usually a massive increase in demand for the local currency. This results in long queues at currency exchanges. This same trend occurred in Rio de Janeiro 2016 and Beijing 2008.
The issue even gets more complicated with language barriers and confusing exchange rates. XRP is one of the fastest digital currencies and its transaction fees are also one of the lowest. Takahashi believes that XRP would be the solution to this issue.
Coil – an XRP-Based Platform – Sees a Massive Surge in Sign Ups
Coil is a new XRP-based platform which enables content creators to monetize their content on YouTube and other online platform and earn XRP. The platform said it has seen a significant increase in sign-ups since it released its beta version.
The beta version of Coil was released last month. The platform said it would only allow invited creators to sign-up on the platform. However, they said content creators are not waiting around for invites. Over 500 YouTube channels and websites have reached out to the firm to sign up.
XRP (XRP) Price Today – XRP / USD
XRP (XRP) is currently worth $0.4824 after an increase of less than one percent over the past twenty-four hours. The digital currency currently has a market cap of $19.27 billion with a trading volume of $396.89 million over the past twenty-four hours.