to report

according toto reportTen months ago, former Japanese professional baseball player Ken Takahashi launched a petition on Change.org (a public welfare petition website), hoping to use XRP (Ripple Coin) as the official digital currency of the 2020 Tokyo Olympics. The petition needs 7,500 signatures. Currently, the petition has more than 8,200 signatures.

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As can be seen,The petition mainly hopes to use XRP for payment to solve the foreign exchange problem involving international currency payments for the Tokyo Olympics.In fact, many of the logistical problems associated with major international sporting events can be solved using cryptocurrencies.

At present, Takahashi said that he has not put pressure on the yen, but has proposed the establishment of a system using XRP in addition to the use of fiat currency.

XRP is another focus after Bitcoin, a virtual currency issued by Ripple labs (formerly known as Opencoin).XRP is different from other currencies in the Ripple system. It is the only universal currency in the system and has the functions of bridge currency and security.Due to the open source nature of the Ripple protocol, malicious attackers can create a large number of "junk accounts" and cause network paralysis. In order to avoid this situation, Ripple Labs requires each Ripple account to have at least 20 XRP.

From a business standpoint, the athlete’s petition to use XRP shows that the cryptocurrency is favored. If XRP and digital currency payments can be promoted through an international sports event such as the Olympics,It is beneficial to the development of digital currency, thereby attracting more investors to join.

In September last year, there were plans to launch other cryptocurrencies in Japan for the Olympic Games. Japan's Mizuho Financial Group and Japan Post Bank have formed a consortium to launch J-Coin, a digital currency commonly used in Japan. J-Coin will be "1:1" equivalent to the Japanese yen, and people can buy the cryptocurrency through their smartphones.