[ANN] Sikoba, a peer-to-peer IOU platform

[sikoba]

https://i.imgur.com/UORr1yF.png

{ sikoba - the people’s banking system }

Sikoba is a global and decentralised money platform based on peer-to-peer IOUs and built on blockchain technology. Visit our website!

{ Vision }

P2P payments are already above $1 trillion annually. From almost nothing 10 years ago, P2P lending has grown to $26bn in 2015 and is expected to reach $900bn in 2024. We believe that P2P IOU systems have a similar potential and that they will soon become the next frontier in finance.

{ Sikoba summary }

Using mutual credit systems that are not backed by money, but by IOUs of participants who trust each other, the need for an external money supply is limited to a minimum. Every peer-to-peer credit relationship is governed by a contract with specific conditions, fee structure and repayment rules. Using credit conversion, a kind of configurable rippling, payments between participants who do not trust each other become possible. The system will automatically take care of optimal payment paths, netting and clearing. We will support fiat money via gateways, cryptocurrencies as well as many use cases such as inter-company credit networks. Our goal is to provide a platform for operating any monetary system one can think of, together with the tools allowing all of these different systems to interact.

{ How will it work in practice? }

The way it works that you grant other users, whom you know personally, credit on certain terms which you yourself specify. These users can then pay you by drawing on that credit. Fiat, crypto or other assets can still be used for payment, for example if payment by IOU is not possible or not desired. Also, fiat or crypto may actually be required to repay debt. Both for practical and philosophical reasons, Sikoba is not intended to be, or ever become, a pure IOU system.

In the Sikoba system, a user will only ever have exposures to users to whom he or she has explicitly given credit. To give an example: if Bob trusts Alice, and Charles trusts Bob, and Bob allows what we call “credit conversion” for Alice, then Alice can pay Charles. However, Charles will only see Bob as his counterparty, and not Alice.

{ Sikoba token presale }

Sikoba has launched a token presale. The goal is to raise enough money to produce a MVP (minimum viable product), based on which a token crowdsale will then be launched before the end of 2017

Some Links:

• presale page : http://www.sikoba.com/www/presale/index.html
• Ethereum contract: https://github.com/sikoba/token-presale
• Audit of presale contract: https://www.bokconsulting.com.au/blog/the-sikoba-presale-smart-contract-security-audit/

We are also looking for people who can contribute time and expertise to the project. Please contact us or leave a comment here.

[nagatraju]

I would like to take Marketing Part of your Sikoba Project.

PM Sent with more information.

[jacee]

Any marketing plans and/or bounty programs to get free sikoba? I am interested to take part. I also sent a pm.

[alvinmtp]

{ sikoba - the people’s banking system }

Sikoba is a global and decentralised money platform based on peer-to-peer IOUs and built on blockchain technology. Visit our website!

{ Vision }

P2P payments are already above $1 trillion annually. From almost nothing 10 years ago, P2P lending has grown to $26bn in 2015 and is expected to reach $900bn in 2024. We believe that P2P IOU systems have a similar potential and that they will soon become the next frontier in finance.

{ Sikoba summary }

Using mutual credit systems that are not backed by money, but by IOUs of participants who trust each other, the need for an external money supply is limited to a minimum. Every peer-to-peer credit relationship is governed by a contract with specific conditions, fee structure and repayment rules. Using credit conversion, a kind of configurable rippling, payments between participants who do not trust each other become possible. The system will automatically take care of optimal payment paths, netting and clearing. We will support fiat money via gateways, cryptocurrencies as well as many use cases such as inter-company credit networks. Our goal is to provide a platform for operating any monetary system one can think of, together with the tools allowing all of these different systems to interact.

{ How will it work in practice? }

The way it works that you grant other users, whom you know personally, credit on certain terms which you yourself specify. These users can then pay you by drawing on that credit. Fiat, crypto or other assets can still be used for payment, for example if payment by IOU is not possible or not desired. Also, fiat or crypto may actually be required to repay debt. Both for practical and philosophical reasons, Sikoba is not intended to be, or ever become, a pure IOU system.

In the Sikoba system, a user will only ever have exposures to users to whom he or she has explicitly given credit. To give an example: if Bob trusts Alice, and Charles trusts Bob, and Bob allows what we call “credit conversion” for Alice, then Alice can pay Charles. However, Charles will only see Bob as his counterparty, and not Alice.

{ Sikoba token presale }

Sikoba has launched a token presale. The goal is to raise enough money to produce a MVP (minimum viable product), based on which a token crowdsale will then be launched before the end of 2017

Some Links:

• presale page : http://www.sikoba.com/www/presale/index.html
• Ethereum contract: https://github.com/sikoba/token-presale
• Audit of presale contract: https://www.bokconsulting.com.au/blog/the-sikoba-presale-smart-contract-security-audit/

We are also looking for people who can contribute time and expertise to the project. Please contact us or leave a comment here.

[potatos55]

I am interested to take part. PM sent.

[wakier]

Looks legit project.. Iam interested to get involved

PM sent! looking forward for more Info

[orenjebum]

sound legit here, reserved for the future

[prix]

Check your presale link it's not opened.
You should edit your link to:  http://www.sikoba.com/www/presale/index.html

[BETAWI]

Sikoba is derived from the London company, right?

[moooonu]

On your signature campaign thread you can post a link of your ANN thread to make it more easy to find ANN thread. And great revenues.

[jacee]

On your signature campaign thread you can post a link of your ANN thread to make it more easy to find ANN thread. And great revenues.

The signature thread already cointains the link of the ANN. Thank you.

[kaolin]

what kind of token is it? waves, Dapp, or ethereum

based on the simple ann it has good market potential in my opinion

[samspaces]

Blockchain IOU is an oxymoron.

[player514]

{ sikoba - the people’s banking system }

Sikoba is a global and decentralised money platform based on peer-to-peer IOUs and built on blockchain technology. Visit our website!

{ Vision }

P2P payments are already above $1 trillion annually. From almost nothing 10 years ago, P2P lending has grown to $26bn in 2015 and is expected to reach $900bn in 2024. We believe that P2P IOU systems have a similar potential and that they will soon become the next frontier in finance.

{ Sikoba summary }

Using mutual credit systems that are not backed by money, but by IOUs of participants who trust each other, the need for an external money supply is limited to a minimum. Every peer-to-peer credit relationship is governed by a contract with specific conditions, fee structure and repayment rules. Using credit conversion, a kind of configurable rippling, payments between participants who do not trust each other become possible. The system will automatically take care of optimal payment paths, netting and clearing. We will support fiat money via gateways, cryptocurrencies as well as many use cases such as inter-company credit networks. Our goal is to provide a platform for operating any monetary system one can think of, together with the tools allowing all of these different systems to interact.

{ How will it work in practice? }

The way it works that you grant other users, whom you know personally, credit on certain terms which you yourself specify. These users can then pay you by drawing on that credit. Fiat, crypto or other assets can still be used for payment, for example if payment by IOU is not possible or not desired. Also, fiat or crypto may actually be required to repay debt. Both for practical and philosophical reasons, Sikoba is not intended to be, or ever become, a pure IOU system.

In the Sikoba system, a user will only ever have exposures to users to whom he or she has explicitly given credit. To give an example: if Bob trusts Alice, and Charles trusts Bob, and Bob allows what we call “credit conversion” for Alice, then Alice can pay Charles. However, Charles will only see Bob as his counterparty, and not Alice.

{ Sikoba token presale }

Sikoba has launched a token presale. The goal is to raise enough money to produce a MVP (minimum viable product), based on which a token crowdsale will then be launched before the end of 2017

Some Links:

• presale page : http://www.sikoba.com/www/presale/index.html
• Ethereum contract: https://github.com/sikoba/token-presale
• Audit of presale contract: https://www.bokconsulting.com.au/blog/the-sikoba-presale-smart-contract-security-audit/

We are also looking for people who can contribute time and expertise to the project. Please contact us or leave a comment here.

Do you have sources for that expected value of P2P lending? I'd like to take a look at the data where that's coming from. I think a lot of things could go wrong in between the span of then and now, so I'm wondering how that conclusion/proposition was reached.

[memequiserle]

can explain detail youre coin dev
total suply coin, token coin, ethereum, waves or NXT
open translation bounty or not dev, i want resever indonesian translation

[uneng]

It promises to be a good lending platform for trusted users and more than this, a way to introduce more persons to crypto world by the easy method to receive/give money and low fees, low interest to pay, very different from banks.
All the best for Sikoba team, I hope you help to make the bitcoin community bigger than now with your project.

[Nathan047]

This is defiantly an interesting concept, although I know an interesting concept don't guarantee success.
Regardless of the outcome, this doesn’t seem like a scam coin and probably won’t dissipate overnight (and I’m not just saying that ‘cause I’m part of the sig campaign).

[davide72]

hi dev could you reserve for me italian translations , thanks!

[shamzblueworld]

This definitely is a promising project, glad to be involved in the campaign to promote it. Looks legit and I hope it prospers in time.
Good luck to the team and everyone involved.

[Gembul]

can explain detail youre coin dev
total suply coin, token coin, ethereum, waves or NXT
open translation bounty or not dev, i want resever indonesian translation

Yeah, I think dev needs a thread in another language so people better understand in detail with this project. As part of the team that promoted this project I feel happy and hope this project will be smooth. Thank you