IOU Wallet – Track and settle peer-to-peer obligations

Summary: IOU Wallet records debts and obligations between parties, including terms and settlement conditions, using virtual handshakes for acknowledgment and closure. It supports various agreement types such as fixed terms, rates, late fees, and redemption values, enabling clear tracking without formal contracts.

What it does

It allows users to create IOUs with specified terms, track accrual of rates and fees, and confirm settlements via virtual handshakes. Settlements can be completed on or off-platform using fiat or cryptocurrency.

Who it's for

Individuals involved in informal lending, borrowing, or service exchanges who need clear, mutual records of obligations without formal contracts.

Why it matters

It provides a structured way to document and settle everyday peer-to-peer debts, reducing misunderstandings and ensuring clarity on terms and payments.