Technology is finding its way into every facet of our personal and professional lives, and though the horse world is steeped in tradition and historically has been slow to embrace change, we are beginning to see equestrians adopt new and emerging concepts. Online entries are now commonplace as they save exhibitors time and money. Carbon fiber is starting to make its way into boots, helmets and saddles. Advanced lasers, magnetic blankets and shockwave machines are now tools used to care for modern performance horses.

One area of our sport ripe for further technological disruption is data. Across disciplines, horse sports generate volumes of data every day. From breeding records to performance records to health records, every sport horse generates a stream of data throughout its lifetime. What if all this data could be reliably stored, organized and retrieved in a secure and accurate way?

Whether it is tracking the lineage of a horse, monitoring its health or managing financial data, accurate and transparent records are crucial as our sport grows and becomes a full-blown industry. The equestrian world has long relied on archaic paper records, incomplete databases and fragmented reporting—data shortfalls that can lead to inefficiencies, errors, and, in some cases, fraud.

Enter blockchain technology—a revolutionary tool that could transform how we track and manage data in the equestrian industry. Blockchain’s ability to provide secure, immutable and transparent records could be the key to creating a lifelong, tamper-proof record for every horse from birth to death.

Blockchain is a decentralized digital ledger that records transactions and data securely and transparently. Information recorded on the blockchain cannot be deleted or overwritten, making it an ideal solution for industries that require trustworthy and permanent records—like equestrian sports and horse management.

By leveraging blockchain, the equestrian world could streamline the way it records and shares data while improving transparency and security. This article focuses on blockchain’s potential for performance tracking, financial transactions, veterinary and health records. There are significant obstacles to adoption that will also need to be addressed due to the scale of implementation required. 

Performance Tracking: A Reliable Record For Owners, Competitors And Breeders

In competitive equestrian sports, a horse’s performance history is everything. Whether it is a race horse, a show jumper or a dressage champion, potential buyers and trainers rely on accurate records to make informed decisions.

Inaccuracies or fraudulent record-keeping are critical threats to the integrity of the sport and spirit of competition. Decentralization creates opportunities for discrepancies, but that is where blockchain technology can help, as it can mitigate these vulnerabilities by providing a secure, immutable and transparent ledger where competition results, horse pedigrees and medical histories are recorded in real-time and verified by multiple stakeholders. Performance data, including results, faults, rankings and progress over time, could be securely stored on a public or permissioned blockchain.

“The future is digital. Why shouldn’t the horse industry be?”

This level of transparency offers significant advantages for buyers and investors, as they could verify a horse’s performance record without worrying about potential forgery or tampering. Consequently, the horse’s value and reputation would be accurately represented in a transparent digital ledger, ultimately fostering trust and confidence in the marketplace.

Imagine being able to pull up a permanent record of a horse’s entire career—from its first competition to its retirement—at the click of a button. The data could also include videos of the horse competing. Blockchain could go a long way to eliminating concerns about falsified records by giving breeders, buyers and sponsors greater confidence in their investments.

Veterinary And Health Records: Ensuring Horse Welfare And Transparency

The medical history of a horse is one of the most critical aspects of its care and a pivotal data point when determining valuation. Unfortunately, veterinary records are often fragmented, existing in multiple locations, making it difficult to track a full and complete medical background. We can mitigate these issues by leveraging blockchain technology through several different applications.

Each horse, for example, could be assigned a blockchain-based digital health passport that consolidates vaccination history, treatments, injuries, genetic testing results and medications. Veterinarians, trainers and owners would then have secure access to update these records. This transparent system would also enable prospective buyers to verify a comprehensive medical history, mitigating the possibility of undisclosed or overlooked conditions.

By leveraging blockchain, each routine checkup, vaccination or medication administration would be time-stamped and securely linked to the horse’s unique digital identity. This prevents retroactive alterations or deletions.

Blockchain could also help governing bodies like the U.S. Equestrian Federation and the Fédération Equestre Internationale enforce welfare regulations. If a horse’s medical records are on a blockchain, it would be easier to track medication usage, injury recovery and compliance with anti-doping regulations. These applications represent one subset of all possible applications of this technology. There are also opportunities attached to equestrians’ financial transactions.

Still, the blockchain information will only be as good as what is submitted. The technology itself does not force compliance and only secures the information that is entered. There is still a problem with potentially compromised records if, for example, a veterinarian produces incomplete information, regardless of whether it is willful or not. Additional preventative measures like audits or fines for breaking compliance could help to mitigate these risks but not remove them. In other words, it is an improved record keeping system but cannot remove the threat of bad actors entirely.

Financial Transactions: Secure Ownership And Sales Records

One of the biggest challenges in the equestrian industry is managing ownership transfers, breeding agreements and transparency in financial transactions. In some cases, disputes arise over ownership, performance records and prize money due to poor recordkeeping. How can technology ameliorate these issues?

Each horse could be assigned a unique digital identity, such as a non-fungible token to represent ownership. Since 2017, the USEF has required most show horses to have a 15-digit ISO-compliant microchip, which could be directly integrated with the blockchain ledger for seamless identification.

Ownership transfers could then be facilitated through smart contracts, enhancing legal clarity and reducing the risk of disputes. In addition, breeding agreements, insurance policies and syndicate ownership arrangements could be transparently recorded, fostering greater trust and accountability throughout the industry.

When a show jumper is sold, for example, its ownership transfer could be automatically recorded on the blockchain. This ensures that only authorized parties can claim ownership.

Challenges And Considerations

The equestrian sector would first need to standardize the use of blockchain technology and ensure that stakeholders—ranging from breeders to governing bodies—are fully informed about the technology’s benefits and limitations. Initial implementation costs could be significant, however, the industry would likely enjoy long-term savings due to streamlined processes, reduced fraud and more efficient record-keeping. I am convinced the latter will outweigh the former. Regardless, these obstacles to adoption highlight the importance of thorough planning and financial analysis before any large-scale implementation begins.

Furthermore, the nature of this technological overhaul of sensitive information suggests that implementation requires a top-down approach. Governing bodies such as the USEF and FEI must approve and integrate blockchain solutions into their existing frameworks, which often involve complex legacy systems. This regulatory acceptance, coupled with the need for technological alignment across different platforms, will require considerable time, effort, and collaboration among stakeholders.

Overcoming these challenges will pave the way for a more transparent, reliable and cost-effective equine industry. As more industries move toward electronic record keeping, it is time for equestrians to do the same. The future is digital. Why shouldn’t the horse industry be?

The views expressed in opinion pieces are those of the writers and do not necessarily reflect those of The Chronicle of the Horse.

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Philip Richter is the co-chairman, president and partner of Hollow Brook Wealth Management where he oversees firm-wide client relations, marketing and business development, and sits on the investment committee. Richter is involved with asset allocation, manager selection and equity research. Richter previously served on the board of directors of WidePoint Corporation (NYSE: WYY). Currently, Richter sits on the board of the United States Equestrian Team Foundation, the United States Equestrian Federation, Revs Institute and the Pray Family Foundation. He is the chairman of the Lake Placid Horse Show (New York) and the treasurer of the Hampton Classic (New York). 

Richter received a BA from Boston College and an MBA from the Stern School of Business at New York University. Richter is a vintage car enthusiast who maintains a collection of modern classics and pre-war motorcycles. He participates in international car shows, hosts the Turtle Invitational—a biennial car show in Bedford, New York—and is a regular contributor to many equine and collector car publications. Richter also competes in equestrian show jumping in the high amateur division.

Robert McNerney manages the Hollow Brook Wealth Management’s marketing efforts and supports business development. He is a marketing leader with a background spanning the public and private sectors, resulting in a blend of political, international and entrepreneurial experiences. Prior to Hollow Brook, McNerney’s career path spanned from co-founding a digital marketing firm to leading the Australian prime minister’s digital campaign with IMGE. He has also served as a communications specialist and event organizer for the US Secretary of Commerce, and most recently consulted on business strategy at 3M.

McNerney received a degree in political science from the University of Michigan and then went on to earn his MBA from the Kellogg School of Management (Illinois). Outside of work, he enjoys traveling, history and cheering on his sister at horse shows.