Blockchain Platform Sikoba works with Horizen on a transparent decentralized credit market
Decentralized blockchain-powered system Sikoba announced its partnership with Horizen, a technology platform that provides solutions for businesses and developers to build their own public or private blockchains. A release shared with CI revealed that both parties are now offering users, “the ability to obtain legal certainty, establish credit history, and verify financial transactions in a safer and more secure manner.” Sikoba’s strategy is to bring efficiency to informal credit as it now lacks, “...legal recognition, the inability to transact outside of one’s trusted network, and the absence of a verifiable audit trail.”
Alex Kampa, the founder of Sikoba, pointed out that by using the Zero knowledge toolkit and the Zendoo interoperability protocol, they will be writing these ideas onto the Public Horizen sidechain to enforce this solution. As stated in the notice, the Sikoba platform will include Zendoo, which provides users with an extra layer of protection and accountability. The DLT network of Sikoba will also be linked to the Horizen Public blockchain. The Merkle core of each Sikoba block will be stored in a sidechain on Horizen, as explained in the update.
Co-Founder of Horizen Rob Viglione commented,
“Due to the nature of Sikoba’s financial data, its blockchain system needs to be completely reliable for data management – Horizen is thrilled to partner with Sikoba to provide this, and to help its users obtain transaction certainty and establish a credit history via the blockchain. Horizen’s partnership with Sikoba is a great early use case for Horizen’s sidechain technology, Zendoo, as it showcases one of the many mainstream adaptations for interoperable and transparent sidechain tech.”
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