Olympic

Scott Bessent, the Treasury Secretary nominee proposed by Donald Trump, stated he does not support the US developing a central bank digital currency (CBDC), asserting that this is not a necessary direction for America.
Statement at the Senate hearing
During the Senate Finance Committee hearing, Bessent stated:
"I see no reason for the US to have a central bank digital currency."

Introduction
The Olympic Games have seen many past editions remembered as a place of unification, sportsmanship, and the pursuit of excellence. Like we are heading to the era of digitization, the mix of modern and futuristic technologies like blockchain allows us to remain true to Olympic ideals and stay with advancements. This paper discusses blockchain approaches for expanding transparency, integrity and broadening of participation in the Olympic world.
Preserving the Olympic Values
The Olympic principles of excellence, fellowship, and respect are absolutely emphasized in the rich tradition of the Olympics. Blockchain technology, thanks to its decentralized features and immutability, can become a tool in addition to the human values for just mechanism by ensuring equitableness, responsibility, and trust. [1]
Transparency and Anti-Doping Efforts
The highly visible and large number of participants in the Olympic Games pose a serious challenge, not to mention the issue of doping. By means of Blockchain, it is possible medical data, doping test results and competitive records of athletes will be found in a secure copy which also cannot be changed. This may ensure the genuineness of the anti-doping initiatives and strengthen the spirit of fair play. Use our artificial intelligence to write for you for free as a student or get better grades. Our system is free to use and produces original, high-quality content that can fool even the most discerning reader. GPT-3 (Generatively Pretrained Transformer 3) is a cutting-edge language model that takes
Secure Voting and Decision-Making
The decentralized voting mechanism of blockchain can be applied to various decisions, like voting within the governing bodies of the Olympics. This contributes to more openness and a responsible decision-making process in city selection, rule adjustments, and other pivotal decisions within which a wide range of fans and other stakeholders share their opinions. [3]
Enhancing the Olympic Experience
Blockchain could serve not only to retain the same spirit of the Olympic Games but also to create an even more interesting and comfortable atmosphere for athletes, viewers, and organizers.

Digital Ticketing and Merchandise
To make ticketing and merchandise distribution more guaranteed, blockchain-based digital ticketing and merchandising can be introduced to facilitate the verification procedure and cut down on the risk of fake tickets and scalping. As a result, it will also be possible to achieve a much more crowded and advantageous experience for fans, accompanied by their permanent revenue obtained by organizers. [4]
Athlete Engagement and Rewards
Blockchain technology will be helpful in building a fan-athlete communication platform that will, in return, give out rewards and incentives or two-way support without an intermediary. This can aid in a stronger relationship between athletes and their fans that is consistent with the Olympic ethos of `friendship and respect'. [5]

Conclusion
It represents a groundbreaking innovation for the Olympic Games, as it plays a role in preserving the Olympic premise and embracing what is new. The utilization of blockchain technology for its inherent features of transparency, security, and decentralization of the Olympic movement becomes possible, and thus it turns out to be an opportunity to be used in the reinforcement of the former's values, the area of the overall experience, and the way that leads to a trustworthy and inclusive future. In an ever-changing world, the Olympic Games can play the role of a lighthouse, which shines a light on the merit of tradition and the path of progression, a torch that ignites the fire of younger souls.
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