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

Hong Kong's 'front line' protesters explain their stance

Aug 20, 2019

HONG KONG — On a recent sweltering Saturday, a day now reserved for protest in Hong Kong, a demonstrator named Wayne stepped past a row of plastic barricades, lifted a pair of binoculars and squinted. Four hundred meters away, a line of riot police stood with full-length shields, batons and tear-gas launchers. It was a familiar sight for Wayne after more than two months on the front lines of Hong Kong's turbulent pro-democracy demonstrations. Along with hard hats and homemade shields, face-offs with police have become part of the 33-year-old philosophy professor's new normal. The stories of Wayne and three...

Man, 20, pleads not guilty in Jewish center video threat

Aug 20, 2019

STRUTHERS, Ohio — A 20-year-old man pleaded not guilty Monday to threatening a Jewish community center in a video that authorities say showed him shooting a semi-automatic rifle. A judge near Youngstown set bond at $250,000 for James Reardon, ordered a mental health evaluation and told him to stay away from Jewish houses of worship and organizations if he is released from jail. Police arrested Reardon Saturday on charges of telecommunications harassment and aggravated menacing, a day after a Jewish organization contacted authorities. Ammunition, semi-automatic weapons, a gas mask and anti-Semitic information were found at a house in New Middleton...

California governor signs law to limit shootings by police

Aug 20, 2019

SACRAMENTO, Calif. — California is changing the standards for when police can use lethal force under a law signed Monday that seeks to reduce officer-involved shootings.  "We are doing something today that stretches the boundary of possibility and sends a message to people all across this country that they can do more and they can do better to meet this moment," said Gov. Gavin Newsom as he stood alongside family members of people killed by police. California's old standard has made it rare for police officers to be charged following a shooting and rarer still for them to be convicted....

Slain Chinese scholar's family to give $20K for help in case

Aug 20, 2019

CHAMPAIGN, Ill. — The parents of a University of Illinois scholar from China who was abducted and killed two years ago are giving at least $20,000 to people who provided authorities with crucial information that led to the arrest and conviction of their daughter's killer. The money will come from a GoFundMe campaign that raised more than $161,000 from more than 3,500 people since Yingying Zhang disappeared in June 2017, The (Champaign) News-Gazette reported. According to a campaign update, part of that money will help to pay for the family's "final U.S. expenses." Another $30,000 will be used as an...

Chinese pop stars publicly back Beijing on Hong Kong

Aug 20, 2019

HONG KONG — At least eight pop stars from mainland China and one each from Taiwan and Hong Kong are publicly stating their support for Beijing's one-China policy, eliciting a mixture of disappointment and understanding from fans. Many of the statements came after protesters opposed to Beijing's growing influence over semi-autonomous Hong Kong removed a Chinese flag and tossed it into Victoria Harbour earlier this month. Lay Zhang, Jackson Wang, Lai Kuan-lin and Victoria Song were among the K-pop singers who recently uploaded a Chinese flag and declared themselves as "one of 1.4 billion guardians of the Chinese flag" on...

About Us

Buzzing Globe explores the numerous events which causes a “buzz” to the everyday individual and to shed light onto these events.

Contact us: sales[at]buzzingglobe.com

Subscribe Now!