Blockchain May Break The Traditional Horse Racing Industry

The Hong Kong Jockey Club has confirmed its first historic mainland China race meeting at Conghua Racecourse in China will take place on Saturday, 23rd March 2019 to provide a Hong Kong's world-class horse racing experience for people in Mainland China.

 (Photo Credit: Kenneth Chan, SCMP)

Five exhibition races, in total, will be run under the governance of rules of racing of the Hong Kong Jockey Club, with the participation of only Hong Kong-based horses, trainers and jockeys. On these exhibition races, all of the sampling, laboratory analysis, veterinary regulation and other controls in place will be based on a Hong Kong-standard.

 

Due to the regulations and policies in Mainland China, for this exhibition raceday, the Hong Kong Jockey Club will not provide gambling arrangements. The events will not be live broadcast. The broadcast of each race to Hong Kong will be a 15 minutes delay and one-hour delay for designated medias in the Mainland China.

 

“This is a historical step forward for China’s horse racing development after its official announcement to develop horse racing industry in Hainan.” Said Mr. Liao Yizhen, RacingLand Committee Member, “The development of China’s horse racing has been gone through a very tough journey, and today, we see the dawn this growing industry. Both China’s and overseas’ companies, organizations had already gotten ready to join this revolutionary development.”

 

“RacingLand has also started it footprint in China in Q4 2018, seeking for more partnership regionally. With a team of horse racing professionals, we are targeting to contribute our efforts in this new market by bring successful experience and help China’s horse lovers to get connected with the global market.” Liao added.

 

In the near future, people in Mainland China will be much easier to engage in horse racing. However, the range and depth of engagement is still very limited if we cotunnite to follow the traditional horse racing path. From an international perspective, about 70-90% of the horse bets are returned to the lottery, 0-15% as taxes, 5%-10% as bonuses and stadium operating expenses. Judging from the size of the $30 billion annual bet of 100 million people in Japan, if China's horse is up to 500 billion yuan a year, then it can have a bonus of 250-500 billion yuan to encourage the horse owners to raise horses. The rewards that horse owners can get are not limited to this, horses with excellent performance on the field can charge high breeding fees and also can enjoy the benefits of horse appreciation.

 

Due to the limitation of cross-boundary transaction and communication, horse raising resources are mostly controlled by the upper class. However, this might change with the help of blockchain technology. RacingLand is a horse racing business based on the blockchain, which committed to creating the world’s first most transparent and open platform. There are multiple services provided on the platform that would create a horse racing eco system, including Horse Racing Media, Racing Ownership, Horse Exchange and Racing Game.

 

In addition, with the help of tokenized model, race tokens would be introduced onto the platform and would be known as “RACE”. With the implementation of these tokens, people can own a horse by purchasing the share using token and horse shareholders can also enjoy the benefits of sharing the bonuses of a race, tournament, as well as the appreciation of the horse. Here in RacingLand, owners or players can feel more at ease and engaged when using the platform and would also get the chance and experience to own their very own stallions and gain much joy during their period of ownership. 

 

For media enquiry and their recent activities, please contact RacingLand Team at pr@racingland.com.

Media Contact: 

Name: BT
Company: RacingLand
Email: pr@racingland.com

Hong Kong

Tweet

Latest News

Trump: Administration to review Pentagon computer contract

Jul 21, 2019

WASHINGTON — President Donald Trump says the administration will "take a very long look" at a massive multibillion-dollar contract the Pentagon is about to award for a cloud computing system. Amazon Web Services Inc., a division of Amazon, and Microsoft Corp. are finalists for the contract estimated to be worth as much as $10 billion over a decade. Trump says Thursday at the White House that he's been hearing "tremendous complaints" from other companies that the contract was not competitively bid, among other issues. Some Republican lawmakers also took their concerns about the Pentagon's handling of the contract directly to...

Dems pan 'Zuck buck,' want Facebook to rein in currency plan

Jul 21, 2019

WASHINGTON — Facebook endured a second day of criticism from Congress over its plan to create a digital currency as senior House Democrats asked Facebook to scale back the project and threatened legislation that would block big tech companies from getting into banking. Facebook's massive market power and its record of scandals, fines and privacy breaches were on trial at a hearing Wednesday of the House Financial Services Committee. Lawmakers from both parties insisted they cannot trust the social network giant. "I think you're pretty low on the trust spectrum right now, and understandably," Rep. Vicente Gonzalez, D-Texas, told David...

Scientists find new way to kill disease-carrying mosquitoes

Jul 21, 2019

NEW YORK — Scientists say they nearly eliminated disease-carrying mosquitoes on two islands in China using a new technique. The downside: It may not be practical for larger areas and may cost a lot of money. In the experiment, researchers targeted Asian tiger mosquitoes, invasive white-striped bugs that can spread dengue fever, Zika and other diseases. They used a novel approach for pest control: First, they infected the bugs with a virus-fighting bacterium, and then zapped them with a small dose of radiation. Zapping is meant to sterilize the mosquitoes. And releasing mosquitoes infected with a bacterial strain not found...

Codebreaker Alan Turing to be face of new British banknote

Jul 21, 2019

LONDON — Codebreaker and computing pioneer Alan Turing has been chosen as the face of Britain's new 50 pound note, the Bank of England announced Monday. Governor Mark Carney said Turing, who did ground-breaking work on computers and artificial intelligence, was "a giant on whose shoulders so many now stand." During World War II Turing worked at the secret Bletchley Park code-breaking center, where he helped crack Nazi Germany's secret codes by creating the "Turing bombe," a forerunner of modern computers. He also developed the "Turing Test" to measure artificial intelligence. After the war he was prosecuted for homosexuality, which...

AP Exclusive: New election systems use vulnerable software

Jul 21, 2019

WASHINGTON — Pennsylvania's message was clear: The state was taking a big step to keep its elections from being hacked in 2020. Last April, its top election official told counties they had to update their systems. So far, nearly 60% have taken action, with $14.15 million of mostly federal funds helping counties buy brand-new electoral systems. But there's a problem: Many of these new systems still run on old software that will soon be outdated and more vulnerable to hackers. An Associated Press analysis has found that like many counties in Pennsylvania, the vast majority of 10,000 election jurisdictions nationwide...

About Us

Science Tech Today is all about the present with what’s new in the Science and Technology world. “Keep up with today, and don’t be left behind.”

Contact us: sales[at]sciencetechtoday.com

Subscribe Now!