Reuters: RacingLand Announces Breakthrough Technologies for the Equine Industry

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Singapore – February 25, 2019 —

The noble sport of horseracing, originally a pastime previously and exclusively reserved for members of the elite, is fast-growing into one of the biggest new sporting endeavours in Asia today. RacingLand, a blockchain-based horseracing business which aims to create the world’s first wholly transparent and open-platform horseracing syndication service, is at the forefront of this equine revolution to transform this ancient sport with Artificial Intelligence.

The technology which might allow RacingLand to integrate artificial intelligence into every aspect of their system already exists. In March 2018, reported the success of two predictive artificial intelligence systems, MogIA and UNU, in successfully guessing the outcomes of two great American races – the world-renowned Kentucky Derby, and, as a side-project, the outcome of the US Presidential Election – something which no human commentator could do with any degree of accuracy. In the case of these predictive systems, the information fed into them was based on the ‘swarm intelligence’ of between four and twenty human agents, through either scraping public social networks or through directly surveying a group of people. And in both cases, the outcome was predicted exactly – both systems broke through the ‘filter bubbles’ that humans create as a natural short-cut to our critical thinking processes, and successfully integrated information from all sides in order to churn out the winner.

For their horse crowdfunding platform RacingOwner, RacingLand aims to allow people to buy horses, or shares in horses, using their unique cryptographic token. The incentive for this is that not only would their shareholders take pride in at least partially owning a horse they love, but they can then share in the bonuses that the horse might win if they were to perform well in a race or a tournament. Given the heavily integrated society we now live in, where the Internet of Things is well and truly distributed throughout everything we do, RacingLand might take the opportunity to use a predictive system to gauge public opinion on how well a particular horse is doing, just as MogIA and UNU did with their own races, and produce a reliable and informative result for their shareholders.

Currently, there are already several devices within the horseracing market – based on the overwhelming dominance of health wearables – which use sensors attached to either the horse itself or its saddle to track real-time performance and health information. With the in-depth learning capacity of AI, this provides immediate analysis both on the track and in the paddock allows for potential owners to check on horses they are interested in syndicating, as well as those they already hold a stake in, and allows for breeders and trainers to specialise their prized steed’s healthcare and exercise regimen. ‘Smart saddles’ and other unobtrusive technology also allow for otherwise unavailable telemetric data to be collected and utilised in optimising strategy, such as gait, symmetry, jump style and so on, all of which aim to give an edge to those who make the effort to study the information they provide.

By on-chaining trusted IoT devices such as these within their distributed blockchain system, RacingLand hopes to capitalise on these new technological innovations and create a system where any horse’s information can be readily accessible, in real-time, at any time – ultimately eliminating the risky nature of traditional ‘insider tips’ and informing prospective buyers and current owners alike. The reason for using blockchain over traditional data-collection methods is simple: the information on any particular horse is not available over any period of time, allowing for owners, punters and bookies alike to fine-tune their odds of a horse winning a particular race, but that information is also constantly updated, synchronised on-demand, and encrypted to anybody who isn’t a validated user. This preserves the exclusivity of racehorse ownership, as only those who have a vested interest in the sport would be able to access, for instance, telemetry information; but, at the same time, lowers the bar of entry enough for anyone interested in racing, breeding or owning horses to join the party – not just the elite. Gone are the days where an intricate knowledge of horseracing syndication was needed before you could go out and buy a stake in a horse – all you have to do now is know how to use the system, without needing to worry about whether the information you receive is authentic. For first-timers, this means no more betting on the horse with the silliest name or trusting your gut, either, because you can guarantee the information you get is always 100% accurate.

Whether you’re new to the game or have been riding bareback for decades, RacingLand’s commitment to providing as much accurate and reliable data as possible allows you to make your choices easier when buying, selling and breeding on your noble and gallant steed, because, at the end of the day, they love racing just as much as their clientele do. And, as anyone with a passing interest in horseracing knows, one has to be fast, to be first.

Contact Info:
Name: Joann Park, Editor
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Phone: +65 98832707

Source: Reuters