I’ve been working on a small side project called IOU Wallet and it would be great to find out if you think its useful and useable. Let me explain in some more detail:

How IOU Wallet Works

IOU Wallet helps you keep track of everyday peer-to-peer obligations. It is designed for real-world situations where something is borrowed, a service is provided, or money is owed, and both sides want clarity without relying on formal contracts.

At its core, an IOU records who owes what to whom, under which conditions, and when the obligation is considered settled. Both parties acknowledge the IOU through a simple virtual handshake, and once settlement is confirmed a closing handshake settles the obligation.

IOU Wallet supports three types of IOUs: Items, Services, and Cash. Each can start simple and be extended with additional terms when needed.

Item IOUs (Borrowed Things)

Basic example

A friend borrows your book. You create an IOU that records the item. Your friend accepts it. When the book is returned, settlement is initiated and confirmed and the IOU is completed.

With a rate

You lend a camera for a week. A small daily rental rate is agreed. The rate accrues over time, starting either when the IOU is accepted or after the agreed return date.

With redemption

You lend equipment that may not be returned. Instead of returning the item, the borrower can settle the IOU by paying an agreed redemption value. If a rate applies, it is added on top of that value.

Settlement

Settlement can happen off-platform — for example when a book is returned, a service is completed, or cash is handed back directly.

For outstanding monetary obligations, IOU Wallet also provides on-platform I click settlement, with integrations to selected providers and support for multiple currencies. We currently Support USD, EUR, GBP and Solana. You can also settle fiat using crypto if enabled by the counterparty

IOUs recorded through IOU Wallet are underwritten by personal integrity through virtual handshakes and are not legally enforceable

We are doing a soft launch and would really appreciate feedback on: whether the mental model makes sense

confusing wording or flows

edge cases you think I’ve missed

Happy to answer questions and look forward to your feedback — I hope this tool is useful for you.