home of the IOU economy
SikobaPay is a blockchain-based system to register, track and clear debt.
Our goals are to reduce money dependency, boost local economies in developing countries and allow the unbanked to establish a credit history.
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:
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Because debt is registered on a blockchain, users obtain legal certainty;
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Users can transact beyond their immediate circle of trust, as SikobaPay identifies trusted intermediaries;
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SikobaPay automatically clears circular debt, thus reducing the need for cash settlement.
