Sikoba

Sikoba is a decentralised 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 using IOUs which can be cleared; tallied and offset on a rapid and ongoing basis. These peer-to-peer credit relationships are governed by contracts with specific conditions, fee structures and repayment rules. Sikoba then allows credit conversion, a system in which payments between participants who do not know or trust each other become possible, by automatically finding trusted intermediaries.