Pegasus Coin Supports Largest Kazakhstan Horseracing Park Project

September 4, 2018 /MarketersMedia/ —

Recently, the Kazakhstan Horseracing Association (hereafter referred to as "KHA") announced a brand new blockchain project targeted towards the equine industry. KHA aims to establish a common registry database for race horses with the Pegasus blockchain technology as a central core and to bring this database to the largest horse racing project presently in construction in Kazakhstan —the Kazakhstan Horse Racing Park, envisioned to become the world’s largest cryptocurrency-based integrated facility development.

There is a well-known saying in Kazakhstan; "Songs and horses are the two wings of the Kazakhs." The Kazakhs’ love for horses comes from the nomadic history of the country. While many Kazakhs have settled in towns and cities, their love for horses has not changed. During the 2008 Summer Olympics torch relay event in Kazakhstan, the torchbearer on horseback was one of the biggest highlights of the event.

However, in spite of a cultural heritage deeply rooted in horses, none of the present existing 15 racetracks in Kazakhstan have met international standards. Kazakhstan urgently needs a technologically advanced and well-equipped horse racetrack to meet international standards to attract overseas equine industry participants.

The Kazakhstan Horse Racing Park, jointly developed by KHA and its partners, is here to solve the problem for the community. The Kazakhstan Horse Racing Park will be located in the city of Almaty and will cover an area of ​​113 hectares. Not only will it be equipped with a horse racetrack of international standards, it will also feature a modern stable that can accommodate up to 700 horses and an auditorium with a design capacity of up to 6,000 people. KHA will also invest in the latest state-of-the-art facilities and technology to improve control over prohibited doping controls and the quality of photo finish to ensure the fairness of the races as well as raise the overall standards of the Kazakhstan horse racing industry.

In addition to being equipped with modern race facilities, the Kazakhstan Horse Racing Park will also become an integrated commercial and entertainment landmark in Kazakhstan. It will include a shopping and art center covering 3,829 square meters, a hotel covering 11,537 square meters, a convention center, a medical center covering 3,279 square meters, and a theme park covering 59,000 square meters. At the same time, the Kazakhstan Horse Racing Park will set up as many as 20 off-site betting stations located in various major cities, allowing customers to place bets remotely using the Pegasus Coin through a highly secure centralized system.

KHA President Yerzhan Durumbetov believes that the Kazakhstan Horse Racing Park will become Asia's largest world-class integrated horse racing entertainment city, that will consistently attract top international acts in the future to become the benchmark for the horse racing industry in Kazakhstan and even Asia.

As blockchain technology gradually reaches maturity, the decentralized and open nature of the technology has led to the number of its applications to expand continuously. More and more traditional fields are adopting blockchain technology as their core management model and market operations, achieving marked improvements in efficiency and setting off industry revolutions one after another. Within the gaming entertainment industry, the use of blockchain technology has also had numerous early precedents.

Horseracing is essentially a game of information, where the party who holds more information will be in a position of absolute advantage. The traditional horse racing industry similarly possesses such a situation of unequal information. Whether the information is intentionally withheld or missing due to data loss, it is extremely difficult for the average consumer and horse trader to obtain reliable information on the race horses such as their pedigree, diet, health and training conditions, making the risk of horse trading extremely high and the problems of fraud endless. At the same time, there has yet to be a recognized standard for the valuation of race horses, making horse trading an Industry with high barriers of entry.

With the decentralized, open and transparent nature of the blockchain, KHA is creating a brand-new cryptocurrency, the Pegasus Coin, as the core currency of a common information database for race horses. All the data stored in the database will be based on real information and results from the data analysis of the horses. This will be registered and stored in a highly secure and distributed open source database that all stakeholders in the equine industry will be able to access.

In addition to the practical function of sharing information of the horses, KHA's application of blockchain technology in horse racing is also reflected in the science-aspect of the horse breeding process and these improvements will impact equine diseases and parasites.

At the same time, through research and development, training, and effective communication, KHA aims to improve the overall standards of the horse racing industry, ensure the safety of industry participants and improve the sustainability of the industry. This holds great significance for future plans, economic benefits and market research for the equine industry. It can be said that with the introduction of blockchain technology, the horse racing industry can say farewell to a past that has been fraught with unequal information, inconsistent management, inefficient operations and uncertain economic benefits, as it moves towards a new technology-driven ecosystem.

The Kazakhstan Horseracing Association (KHA) was founded in 2012, where its founding team comprised of top leaders from various industries including former members of parliament, who boast of vast experiences in the construction and operations of many large-scale development projects around the world. KHA aims to create a world-class integrated horse racing, leisure and entertainment facility driven by blockchain technology and to apply the Pegasus Coin into every aspect of the park's operations so as to attain a fully operational ecosystem based on the Pegasus Coin.

The Kazakhstan Horse Racing Park project has received strong support from the Kazakhstan government, as well as the participation of many partners including the Japan Racing Association, COMPLANT (China National Complete Plant Import & Export Corporation), Fujitsu, DIAS Infrared and many others, coming together to push forward together with the setup and operations of the horse racing park.

KHA President Yerzhan Durumbetov revealed that according to the original plan, the Pegasus Coin blockchain system will be fully operational in 2020, and the Kazakhstan Horse Racing Park will be officially open to the public in 2021. “We may not be the first to come up with the idea of integrating blockchain technology within the horse racing industry, but we are surely going to be the largest and most integrated.” Yerzhan Durumbetov hopes that the project will become a trademark of Kazakhstan and a pioneer in the creation of a new blockchain era. “Right now, there is much waiting to be done. Everyone is working closely together and working hard. Rest assured, everything is going according to plan.”

Contact Info:
Name: Kazakhstan Horseracing Association
Organization: Kazakhstan Horseracing Association

Source URL: https://marketersmedia.com/pegasus-coin-supports-largest-kazakhstan-horseracing-park-project/402235

For more information, please visit https://www.kha.global/

Source: MarketersMedia

Release ID: 402235