Kazakhstan’s Equine Dream
The Kazakhstan Horse Racing Association is certainly taking leaps and bounds forward in the Cryptocurrency industry, and after successfully launching the Pegasus Coin will be looking to change horse racing forever.
The Kazakhstan Horse Racing Association has been in operation for six years now and has the full backing of the Kazakhstan Ministry of Justice. In the short period that it has been up and running, the association has achieved a lot including attaining necessary gambling licenses, land ownership and Memorandums of Understanding with countries such as Japan and China.
Horse Racing Park
Their main aim for the foreseeable future is to develop an innovatively integrated facility for the equine world. The Horse Racing Park will be positioned on 113 hectares, and the plan is for it to be the largest Cryptocurrency facility globally. Those within the industry and equine lovers alike can enjoy a plethora of information and data on horses through the Pegasus Coin payment system. The land has already been selected and lies 20km away from Almaty, Kazakhstan. Construction will begin at the beginning of 2019.
Horse Racing Park will be a huge development which will include an amusement park, hotels, VIP Villas and a shopping center to name a few. There will also be a convent center and phenomenal horse racing facilities. 700 horses will be able to be kept in the facility.
Payments within Horse Racing Park will be able to be made using the Pegasus Coin and its wallet. The wallet will – as expected – offer contactless payments and exchanges between different currencies will be seamless. With Blockchain technology behind all of this, levels of security will be high. The decentralized platform will also mean that no personal data is kept so there is a limited chance for fraud to take place.
In the past, those wishing to gamble have faced difficulties because there have been tough regulations when crossing borders. However, with the introduction of the Pegasus Coin, these concerns are removed. And not only that, because the coin is a Cryptocurrency the transactions fees are also kept to a minimum. A win-win situation for those wanting to bet.
Initial Coin Offering
The Initial Coin Offering for this exciting new project will become available on the 27th August and will be available for a 9 week period. One of the many positive features about the coin is the fact that it provides a “burnback” scheme. This means that the Kazakhstan Horse Racing Association will buy its Pegasus Coins from the market – using any earnings that it has from the park – and will then burn them. The aim behind this approach is to keep the number of coins available to a minimum ensuring that the coin value remains as high as possible. This, in turn, will heighten demand for the coin and offer great reward for its shareholders.
It is a great testament to those behind the ICO that the facility is well and truly on the roadmap and one of the first things to be implemented. This goes against the grain as most ICOs concentrate on other projects before developing their facilities. This will certainly be a fantastic project to watch develop.