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

More News From Science Of The World

South Korea vows to send aid to North quickly, may send food

May 20, 2019

SEOUL, South Korea — South Korea vowed Monday to move quickly on plans to provide $8 million worth of medical and nutritional aid for North Korean children through U.N. agencies while it also considers sending broader food aid to the country, which says it is suffering its worst drought in decades. Lee Sang-min, spokesman for Seoul's Unification Ministry, said the government will discuss its plans with the World Food Program and the United Nations Children's Fund, through which the aid would be provided, so it reaches North Korean children and pregnant women quickly. South Korea is also trying to build...

Vaccine rates rise on long-wary 'hippie' island near Seattle

May 20, 2019

VASHON ISLAND, Wash. — Sarah Day is a school nurse with "street cred" when it comes to the polarizing issue of vaccines on an idyllic island in Washington state known for its rural beauty, counterculture lifestyle and low immunization rates. Since she began communal living on Vashon Island more than 20 years ago, the registered nurse has been advocating for getting kids their shots against a loud contingent of anti-vaccine parents in the close-knit community of about 11,000 that's accessible only by ferry, a serene 20-minute ride from Seattle. And it may now be working, thanks to a "perfect storm"...

Temple memorial to Florida shooting victims is set ablaze

May 20, 2019

CORAL SPRINGS, Fla. — A wooden temple built as a memorial to the 17 victims of a Florida high school mass shooting was set ablaze Sunday in a symbolic gesture of healing. The "Temple of Time" public art installation was set afire at a ceremony hosted by the cities of Parkland and Coral Springs, where Marjory Stoneman Douglas High School students live. The families of several Parkland victims attended the ritual burning of the 35-foot (10-meter) tall temple. Described as "therapeutic" by some, the ceremonial fire was supposed to symbolize the release of pain still left inside. Firefighters surrounded the...

Saudis say they don't want war, but will defend themselves

May 20, 2019

DUBAI, United Arab Emirates — Saudi Arabia does not want war but will not hesitate to defend itself against Iran, a top Saudi diplomat said Sunday amid heightened tensions in the Persian Gulf after attacks on the kingdom's energy sector. Adel al-Jubeir, the minister of state for foreign affairs, spoke a week after four oil tankers— two of them Saudi— were targeted in an alleged act of sabotage off the coast of the United Arab Emirates and days after Iran-allied Yemeni rebels claimed a drone attack on a Saudi oil pipeline. "The kingdom of Saudi Arabia does not want war...

Trump's 'great patriot' farmers follow him into a trade war

May 20, 2019

MADRID, Iowa — Iowa farmer Tim Bardole survived years of low crop prices and rising costs by cutting back on fertilizer and herbicides and fixing broken-down equipment rather than buying new. When President Donald Trump's trade war with China made a miserable situation worse, Bardole used up any equity his operation had and started investing in hogs in hopes they'll do better than crops. A year later, the dispute is still raging and soybeans hit a 10-year-low. But Bardole says he supports his president more today than he did when he cast a ballot for Trump in 2016, skeptical he...

About Us

Started in 2015, Science Of The World offers in-depth news about the latest scientific discoveries. If you’re looking for a reliable source, Science Of The World is the one for you.

Contact us: sales[at]scienceoftheworld.com

Subscribe Now!