Description
Sikoba is a blockchain-based decentralized platform designed to facilitate a peer-to-peer IOU system, aiming to support small businesses, micro-entrepreneurs, and unbanked individuals through an alternative credit mechanism. It enables users who trust each other to grant credit lines for goods, services, or cash advances without actual money transfers, relying on trust networks. Credit agreements are securely recorded on the blockchain, providing transparency and immutability. The Sikoba Blockchain operates using a Federated Blockchain approach for efficient and scalable transaction processing, which is less energy-intensive than traditional Proof of Work systems. The platform supports peer-to-peer credit relationships governed by contracts specifying conditions, fees, and repayment rules. Additionally, Sikoba introduces credit conversion functionality, facilitating payments between users who do not directly know or trust each other by finding trusted intermediaries. This innovative approach aims to reduce financial exclusion and stimulate economic activity by leveraging social capital and trust networks, integrating with existing financial services to enhance access to its cre...
Sikoba is a blockchain-based decentralized platform designed to facilitate a peer-to-peer IOU system, aiming to support small businesses, micro-entrepreneurs, and unbanked individuals through an alternative credit mechanism. It enables users who trust each other to grant credit lines for goods, services, or cash advances without actual money transfers, relying on trust networks. Credit agreements are securely recorded on the blockchain, providing transparency and immutability. The Sikoba Blockchain operates using a Federated Blockchain approach for efficient and scalable transaction processing, which is less energy-intensive than traditional Proof of Work systems. The platform supports peer-to-peer credit relationships governed by contracts specifying conditions, fees, and repayment rules. Additionally, Sikoba introduces credit conversion functionality, facilitating payments between users who do not directly know or trust each other by finding trusted intermediaries. This innovative approach aims to reduce financial exclusion and stimulate economic activity by leveraging social capital and trust networks, integrating with existing financial services to enhance access to its cre...
