CARIBBEAN MUSIC GOES GLOBAL
Recently, the locally created music platform Skempi was launched in Curaçao. Skempi is a one-of-kind music streaming platform that started almost 5 years ago. Initially, the platform focused on publishing independent Caribbean music, but now it will expand and include independent music from musicians around the world.
Skempi’s mission is to revolutionize the way music is distributed online. To make a meaningful impact on top, it’s crucial to make use of the best technology available: “You cannot expect to disrupt the music distribution industry if your service cannot offer the same technical rigor and sophistication as the dominant platforms out there, like Spotify, SoundCloud, and Apple Music”, says co-founder and managing director of Skempi, Boudino de Jong.
For the past two years, the Curaçao-based development company, Profound Projects, together with a Siliconvalley based development company, have joined forces to develop a state-of-the-art skempi.com platform.
From a technological point of view, the launch is huge, but the actual work lies within the global expansion. As part of the vision to revolutionize the independent music industry, Skempi is working on rolling out the very first music royalty token, the Skempi Coin, which is expected to launch by the end of 2018. The Skempi Coin will be offered through a so-called ICO (Initial Coin Offering) and will be integrated with the famous Ethereum blockchain protocol, making the Skempi Coin a ERC20 token. Skempi is developing a mining process that will be tied to the streaming of music (smart streams). The intrinsic value of a royalty token will be determined by two parameters: revenue generated and total streams.
Skempi is collaborating closely with the Ministry of Economic Development in Curaçao to organize the entire ICO within the Curaçao jurisdiction, making this one of the first ICO initiatives to be expected from the island. One of the first innovations to be rolled out under the new Skempi platform will be the artists’ accounts – a functionality, that allows independent artists worldwide to create and manage their own accounts on Skempi, giving them full control on which music they publish on the platform.
For now, the new Skempi website and apps for Android and iOS offer state-of-the-art performance and usability, a database of music consisting of over one hundred thousand songs; the premium account subscription plan additional functions such as offline and ad-free music listening.