Since 2012, Whalebone has provided access and liquidity to neighbors interested in creating punitive free banking models in their community.
Whalebone has sourced NEVERDRAFT ADVANCES (microfinance increments of $100 for a $5/month rental fee) through its sale of gift cards that earn 5%/month payback for card holders.
Whalebone's services offer a clear alternative to the $32,000,000,000 US overdraft industry: an exponential bounty that equates to $100 fee per US citizen per year that is paid by the country's poorest.
If an ice cream shop could lend $100 to a stranger to avoid an overdraft fee, then a bank could surely turn away from "policy" and consider lending to cash poor clients at a novel rate!
The original Whalebone model was built primarily with FIAT (cash, credit and checks). Thanks to the rise of digital coins, a transparent, decentralized and punitive free economy is more possible than ever.
If you work at a coffeeshop and would like to convert your giftcards into an interest earning commodity, you can use excel or build your own version of our early exchange in RUBY ON RAILS.
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