I had the chance to talk with Alex Kampa who is the founder of Sikoba. We discussed the blockchain company as well as the concepts of peer to peer IOUs and informal credit.  

Sikoba is a decentralized 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 using IOUs which can be cleared; tallied and offset on a rapid and ongoing basis. These peer-to-peer credit relationships are governed by contracts with specific conditions, fee structures, and repayment rules.