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Sikoba is a blockchain-based system for registering, tracking and clearing debt.

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In the context of the COVID-19 pandemic, sikobaPay offers SMEs a tool to leverage existing trust
relationships and jump-start an efficient and flexible IOU economy, even when money is in short supply. Related article: "Re-learning the use of credit in times of COVID-19: how can governments help?"

* IOU = "I owe you", an acknowledgement of debt

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 without using fiat money. These peer-to-peer credit relationships are governed by contracts with specific conditions, fee structures and repayment rules.

One of the most important use cases for SikobaPay is to overcome the limitations of informal credit, which is widely used in developing countries because of money scarcity. SikobaPay provides the technology to make informal credit much more effective:

  • Because debt is registered on a blockchain, users obtain legal certainty and are able to establish a credit history
  • Users can transact beyond their immediate circle of trust, as SikobaPay identifies trusted intermediaries

  • SikobaPay automatically clears circular debt, thus reducing the need for cash settlement.
  • SikobaPay is designed to enhance, expand and automate these age-old mechanisms of transacting by using credit lines

Sikoba in a nutshell

Have a look at a one-minute introduction to Sikoba by its founder, Alex Kampa. For more details, please check out our deck.

How it works:


Create an account


Connect with your usual business partners


Grant and receive credit lines


Decide when to allow your business partners to use
your credit lines via credit conversion


Pay or Request payments


Watch as your credits and debits are cleared automatically!

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Use Cases

The aim of Sikoba is to provide a generic platform for money systems.
A few use cases are listed below—for more information, check our Partners page.

Setting up local currencies is a natural use case for SikobaPay. We aim for an easy set-up that will make it possible to start a local currency even for very small communities.

SikobaPay can help to jump-start local economies. Once people realise that bank money is not absolutely necessary and have a tool for keeping track of mutual credits and debits, even primitive economics may get a boost.


Instead of distributing cash, beneficiaries get a “credit” in the SikobaPay app, which they can use directly for purchases, withdrawal, or for sending to other SikobaPay users.

When artisans and merchants start using their own credit on the SikobaPay platform for local trade, their reliance on micro-credits may decrease. But SikobaPay can also be used as an efficient tool to manage micro-lending, reducing operational costs.


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