Sikoba

Sikoba is a decentralised money platform based on peer-to-peer IOUs and built on blockchain technology. Participants who know and trust each other in real life grant each other credit lines in the Sikoba system. They can then pay each other without using fiat money. These peer-to-peer credit relationships are governed by contracts with specific conditions, fee structures, and repayment rules. Informal credit, i.e. using IOUs instead of cash, is widely used in developing countries to overcome money scarcity. SikobaPay provides the technology to make informal credit much more effective: ​Because debt is registered on a blockchain, users obtain legal certainty; Users can transact beyond their immediate circle of trust, as SikobaPay identifies trusted intermediaries; SikobaPay automatically clears circular debt, thus reducing the need for cash settlement.

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