Cryptocurrency Might Be Used for payment in Tokyo Olympics in 2020

[Vena_Network]

If you can use cryptocurrency for payment at the Olympics, does it mean further expansion of blockchain applications and the government's emphasis on cryptocurrencies? In the 2020 Tokyo Olympics, this vision might be realized.


Ten months ago, former Japanese professional baseball player Ken Takahashi launched a petition on Change.org, hoping to use XRP as the official digital currency of the 2020 Tokyo Olympic Games. The reasons for the athlete's petition can be analyzed from the contents of the petition:

“ With many tourists entering Japan, it may cause currency exchange congestion. For example, the 2008 Beijing Olympic Games and the 2016 Rio de Janeiro Olympic Games in Brazil, the exchange rate fluctuations and the language communication barriers between tourists from different countries make the currency exchange problem more complicated. We believe that the rapid trading and security of Ripple Lab's XRP cryptocurrency will make a significant contribution to solving this problem.

It can be seen in the petition that the he hopes to solve the foreign exchange problem involving international currency payments in the Tokyo Olympics by using XRP for payment. In fact, many logistical issues related to large international sports events can be solved by using cryptocurrency.

Japan is one of the largest markets for XRP in the world. The market value of XRP once forced Ethereum and became the world's second largest digital currency. It was the reason for addition of the Bank of Japan Alliance. The development of XRP in Japan was supported. by a large consortium.

The athletes initiate a petition. If the petition is approved, the cryptocurrency will be supported by a wider audience and will be more conducive to the development of blockchain technology.

Vena Network plans to launch ICO on middle of October and publish its online banking platform on the official website. At the same time, we plan to distribute Tokens in the incentive pool to long-term community supporters around the world, which accounts for 10% of the total. This program will long last for the community growth.

[fudster]

I find it funny how you slip that Vena Network under the article.  Great marketing.  I'm not sure if you deserved to be reported but maybe for some. I can assure you, I don't report because after all I've read an entertaining news and the justification of the change.org petitioner. If it all works, then the adoption will finally happen. But its way ahead of time the olympic is on 2020. Its 2018.

[Byzantium101]

Ten months ago, former Japanese professional baseball player Ken Takahashi launched a petition on Change.org, hoping to use XRP as the official digital currency of the 2020 Tokyo Olympic Games.

Ripple is not a cryptocurrency since it is controlled by basically one guy, not decentralised and serves only the banks. If a crypto should be accepted in the Olympics it should be Bitcoin, Bicoin Cash, Litecoin, ether or NEO/GAS.

[judeafante]

I find it funny how you slip that Vena Network under the article.  Great marketing.  I'm not sure if you deserved to be reported but maybe for some. I can assure you, I don't report because after all I've read an entertaining news and the justification of the change.org petitioner. If it all works, then the adoption will finally happen. But its way ahead of time the olympic is on 2020. Its 2018.

Yes good marketing strategy it actually deserves our commendation it's as good as a signature campaign where you can show what you are campaigning anyway I have also seen vera network and it looks good and legit, if it is not I'll definitely give you a bad feedback.

[r1s2g3]

I find it funny how you slip that Vena Network under the article.  Great marketing.  I'm not sure if you deserved to be reported but maybe for some.

I think , if OP  created the article then it should be fine.If article or part of article is copied or paraphrased the OP can be reported. Anywhere in rules I did not read "No self Promoting Articles" so OP should be good under current rules.

Japan is already accepting crypto so use of crypto in Tokyo Olympic by Japanese will not be a big news but definitely a big advertisement.

[Jamesdila1]

thats great if they allow cryptocurrency payment in 2020 olympics. anyway i do not like XRP.  so BTC, ETH, LTC, XVG, DASH are much better payment options which are already in use for payments. ex: XVG for pornhub.  anyway happy to see crypto is spreading around the world fast

[canduterium]

If you can use cryptocurrency for payment at the Olympics, does it mean further expansion of blockchain applications and the government's emphasis on cryptocurrencies? In the 2020 Tokyo Olympics, this vision might be realized.


Ten months ago, former Japanese professional baseball player Ken Takahashi launched a petition on Change.org, hoping to use XRP as the official digital currency of the 2020 Tokyo Olympic Games. The reasons for the athlete's petition can be analyzed from the contents of the petition:

“ With many tourists entering Japan, it may cause currency exchange congestion. For example, the 2008 Beijing Olympic Games and the 2016 Rio de Janeiro Olympic Games in Brazil, the exchange rate fluctuations and the language communication barriers between tourists from different countries make the currency exchange problem more complicated. We believe that the rapid trading and security of Ripple Lab's XRP cryptocurrency will make a significant contribution to solving this problem.

It can be seen in the petition that the he hopes to solve the foreign exchange problem involving international currency payments in the Tokyo Olympics by using XRP for payment. In fact, many logistical issues related to large international sports events can be solved by using cryptocurrency.

Japan is one of the largest markets for XRP in the world. The market value of XRP once forced Ethereum and became the world's second largest digital currency. It was the reason for addition of the Bank of Japan Alliance. The development of XRP in Japan was supported. by a large consortium.

The athletes initiate a petition. If the petition is approved, the cryptocurrency will be supported by a wider audience and will be more conducive to the development of blockchain technology.

Vena Network plans to launch ICO on middle of October and publish its online banking platform on the official website. At the same time, we plan to distribute Tokens in the incentive pool to long-term community supporters around the world, which accounts for 10% of the total. This program will long last for the community growth.

What does the article has in common with the ICO announcement?

Anyway. I see ethereum declining over the rise of other cryptocurrencies like XRP. Does somebody have an analysis on why is this happening? They presented the smart contracts to the crypto scene!

[Ilmiyati]

it might happen as we all know that Japan is one country that legalizes transactions using cryptocurrencies, and if it is true that it happens to eat there will be a strengthening of global altcoin prices because it will invite many new investors who want to invest in cryptocurrencies

[St4yInTh3D4rk]

It will be no wonder if the crypto currencies were accepted as payment for Olympics in 2018 because Japan is a place where crypto currency is accepted everywhere when compared to the other countries but is there any people who aware of crypto currencies there because it is okay with the Japan people but most of the foreigners don't know about cryptos yet so advertisement needed before the tournament starts will make the difference.

[Endikadija]

I find it funny how you slip that Vena Network under the article.  Great marketing.  I'm not sure if you deserved to be reported but maybe for some.

I think , if OP  created the article then it should be fine.If article or part of article is copied or paraphrased the OP can be reported. Anywhere in rules I did not read "No self Promoting Articles" so OP should be good under current rules.

Japan is already accepting crypto so use of crypto in Tokyo Olympic by Japanese will not be a big news but definitely a big advertisement.

How can you sure about that? Japan accepts crypto as a payment system but not all of the merchants are applying this method. The volatility of crypto always become the main reason for them all to reject crypto as a payment system. Remember about when there was a coin that getting down more than 60% just in a day. it looks so terrible dude.

[Jannn]

If this holds true then we might see a huge surge in cryptocurrency popularity around this time in 2020 then.

However, it seems very unlikely that they would pin part of the success of an absolutely huge project on cryptocurrency, there just doesn't seem to be an rationale behind it which usually means it probably wont happen.

[Bavaria]

I believe by 2020 will be possible to make a payments with cryptocurrencies not only In the Tokyo. Many startups  works to bring this in real life. Anyway this is a positive news for a crypto-industry.

[glorybtc]

Vena Network plans to launch ICO on middle of October and publish its online banking platform on the official website. At the same time, we plan to distribute Tokens in the incentive pool to long-term community supporters around the world, which accounts for 10% of the total. This program will long last for the community growth.

if you want to promote a new ICO, you may announce it on announcement forum bro,.. you're on wrong area  after all, you explain about the ripple which many crypto people don't like it because of its non-decentralized nature

[LukeHartman]

Promising news indeed but we can be sure only as time passes as it is too soon to tell what the future holds for Bitcoin to be used in the Tokyo Olympics or not since it is a possibility and not an assurity.

[nsson8e]

Japan is already accepting crypto.So, it'll be no wonder if the cryptocurrencies were accepted as payment for Olympics in 2018. It's definitely a big advertisement.

[Barbarian]

Ten months ago, former Japanese professional baseball player Ken Takahashi launched a petition on Change.org, hoping to use XRP as the official digital currency of the 2020 Tokyo Olympic Games.

Ripple is not a cryptocurrency since it is controlled by basically one guy, not decentralised and serves only the banks. If a crypto should be accepted in the Olympics it should be Bitcoin, Bicoin Cash, Litecoin, ether or NEO/GAS.

Japan is already the country that has adopted cryptocurrencies the most, so I do not see any point in trying to make some kind of official cryptocurrency for the games, as long as people become aware of this new form of payment and this creates good publicity for cryptocurrencies in general we all win with this.

[inanilujimi]

maybe it could happen but I don't recommend ripple for the four-year event.
it's good to use BTC or ETH because both are original cryptocurrency.

[StephanHofmann]

As far as I know Japan is already accepting cryptocurrency as payment. It would be easier for the tourists to make all the payments. Its always a hassle changing into local currency.

[Mia Wallace]

In Tokyo Olympics 2020 crypto currency might be using for the payments because the Japanese government is encouraging their people to use bitcoin and the other alt coins. Since the entire Japanese community is fully aware that the merits and demerits of bitcoin and the other alt coins . Bitcoin could help to overcome their financial crises during the Japanese inflation period before. Now crypto currency is an unavoidable part Japanese life so it can be used for their payment systems.
.

[Red-Apple]

when you are speculating about something you should be clear about it by using terms such as "in my opinion" and this topic is exactly that, it is your own opinion and imagination and also you used this opportunity to advertise your ICO.

the reality is that Japan has only adopted bitcoin and nothing else. they have legally accepted bitcoin as a way of payment and on top of that bitcoin payments have no taxes.
altcoins are still altcoins there and they are non-regulated investments that will cost a huge tax if you use them. nobody will use them as payment specially since there is no place that accepts them anyways.