Sikoba

Sikoba is building an IOU platform to register, track and clear debt. 300+ million small and micro businesses in developing countries often transact using informal IOUs. Sikoba aims to make this process more efficient and help boost local economies. 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. Using credit conversion, a kind of configurable rippling, payments between participants who do not trust each other become possible.