Sikoba, a global decentralized money platform based on peer-to-peer IOUs and blockchain technology has announced its upcoming ICO and a token presale. With the presale, the participants have a chance to receive a 50% bonus on SKO tokens. The ICO will run from April 25 to May 15, 2017.

The blockchain-backed, P2P, IOU-based system will let the users to mutually offer lines of credit within the Sikoba system. This will be made possible via smart contracts, giving users the freedom to pay each other with both cryptocurrencies and fiat money.

The credit relationships in Sikoba system are governed by smart contracts with specific conditions, fee structures, and repayment rules. ‘Credit conversion’ is used for transactions between participants who either do not know or trust each other and fiat currencies or cryptocurrencies can act as a medium of exchange.

Aleksander Kampa, Sikoba CEO, elaborated that the platform is designed as a decentralized system, with the goal of eventually becoming independent and self-organizing, through the aid of blockchain technology. The Sikoba Blockchain uses the ‘Federated Blockchain’ design which is a permissioned mining model where only authorized nodes add blocks to the blockchain.

Sikoba P2P IOU platform is different from other P2P lending platforms as it allows payments to be made without having money (fiat, crypto or any other asset) to begin with.

Sikoba is still at the conceptual stage with technical elements still in the works and operates as a small team of 3. The SKO token ICO presale funds will be used to expand the Sikoba team, finalize a detailed white paper and develop an MVP by the end of 2017.

SKO tokens serve as a kind of digital credit and aims to ultimately have the potential to become a major aspect of the future credit system. For this reason, the Sikoba ecosystem offers a fully functioning virtual credit, or IOU system, that offers users the ability to attain accredited value, borrowed from another participant, without releasing any funds.

The Sikoba presale tokens are scheduled for release by the end of June 2017. The usable SKO tokens will be provided to the participant following the platform’s launch, expected in Q3, 2018. The pre-allocation phase has begun on 17 March 2017, and the public presale will start on 25 April.

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