Get XRP to the Olympics: Can the Ripple Olympic Games Petition Make a Difference?

Get XRP to the Olympics: Can the Ripple Olympic Games Petition Make a Difference?

“We believe that the fast transaction times and security of Ripple Lab’s XRP cryptocurrency would be a great contribution towards solving this problem,” wrote Takahashi.

Whether or not this is a clever ploy by someone looking to boost the price of XRP isn’t really the issue here although it would be interesting if the petition was penned by a Ripple insider. In reality, making XRP a feature of the 2020 Olympics would put the digital token on the map. According to the stats, 3.6 billion watched the 2016 Olympic Games in Rio. With similar numbers expected in 2020, XRP would be exposed to a global audience. Beyond the viewing figures, everyone from TV networks to major corporations spends billions on the Games. Finding a place alongside some of the largest brands in the world could inspire companies to use the cryptocurrency.

However, when you dig a little deeper, having XRP at the Olympics wouldn’t be much more than a PR exercise at this stage. Although the token has its uses, we’re yet to see a commercial product using it. In fact, there are two main issues surrounding XRP at the moment. The first is that casual investors aren’t sure what it is and often assume it’s the same thing as Ripple. In reality, Ripple is a company that created a decentralized platform based on XRP. It’s also has a majority holding in XRP, but it didn’t create it. Secondly, we don’t know who is using it. Ripple’s xRapid has been receiving rave reviews from companies testing it in private. However, the system isn’t live yet.

Although the creators have said the xRapid payment system will be released soon, nothing is set in stone. Until this happens, XRP doesn’t actually have any real-world utility at the moment. Does that mean you shouldn’t buy XRP while the price is low? Not at all. However, it’s worth remembering that this project is a work in progress. Exposure at the Olympic Games would certainly boost XRP’s profile, but would it help attendees avoid long queues at currency exchange kiosks? As it stands, probably not. So, while there’s no harm in signing the petition, it’s not something Ripple or XRP supporters should be pinning their hopes on.

*Information in this article should not be taken as investment advice.

The post Get XRP to the Olympics: Can the Ripple Olympic Games Petition Make a Difference? appeared first on The Independent Republic.

 

source: https://theindependentrepublic.com/2018/10/17/can-the-ripple-olympic-games-petition-make-a-difference/

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