Vision: Over $1 trillion in P2P remittances are already being made annually worldwide. From almost nothing 15 years ago, P2P lending has grown to $68bn in 2019 and is expected to significantly exceed $500bn during this decade. We believe that P2P IOU systems have a similar potential and that they will soon become the next frontier in finance.

Paying with Credit: Only a few centuries ago, most trade was done on credit. In addition, many monies circulated: the government’s money, money issued by bankers, money issued by local princes, by monasteries, by merchants. Paying with credit was a normal occurrence. The Sikoba system will allow a flowering of this monetary diversity, adapted for modern times.

The Root of Money: There is, in the end, only one possible backing of money, and that is the promise of human work. The mechanisms of banking and finance tend to hide this basic fact. With Sikoba, these underlying mechanisms of credit become plainly visible again.