Sikoba careers

Informal credit is widely used in developing countries to overcome money scarcity: IOUs (from “I owe you” - an acknowledgement of debt) are used instead of cash. However, informal credit does have certain limitations, including a lack of legal recognition and the inability to transact outside of one’s trusted network. It also does not provide an audit trail.

Sikoba leverages technology to overcome these limitations:
1) Because debt is registered on a blockchain, users can obtain legal recognition;
2) Users can transact beyond their immediate circle of trust, as Sikoba will automatically identify trusted intermediaries;
3) SikobaPay automatically clears circular debt, thus reducing the need for cash settlement;
4) SikobaPay produces an audit trail, and thus a credit history.

In addition, SikoabPay can be used to model many other use cases, such as local currencies, community credit, micro-finance operations etc.

Our achievements so far:
- A first version of the Sikoba Network software has been completed
- Beta versions of mobile apps (Android and iOs) are being tested now
- We have signed one commercial contract with a local currency in Luxembourg
- MOUs with partners in the Philippines (community lending), Pakistan (trackable payment system) Colombia and Keyna (micro-lending)
- Proprietary technology - "fuzzy" clearing has been developed
- Target to deliver a production version in early 2021