Summary of Brett King's Bank 4.0

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 The US brought back more than 1,500 German scientists and engineers after World War II, many of whom were responsible for developing the V-2 rocket. One of these scientists was Magnus von Braun, who was responsible for developing the V-2 rocket. He claimed that his brother Wernher was the inventor of the V-2 bomb.

#2 To understand von Braun and his willingness to work on a weapon of mass destruction like the V-2 rocket, it must be understood that he simply saw the Nazi ballistic missile program as a means to an end. In his mind, the V2 was simply a prototype of rockets that would one day carry men into space.

#3 The Saturn V was the largest and most complex vehicle ever built. It was used to launch the Apollo and Skylab missions in the 1960s, and it first stage carried 203,400 gallons of kerosene fuel and 318,000 gallons of liquid oxygen needed for combustion.

#4 The space industry is based on the technology of the Apollo era, which was based on the V-2 design. This process of iterative design creates limitations in engineering thinking. You must be prepared to start from scratch to create something truly revolutionary.

• Language: English
• Publisher: IRB Media
• Release date: May 10, 2022
• ISBN: 9798822512672

IRB Media

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Insights on Brett King's Bank 4.0

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 1

#1

The US brought back more than 1,500 German scientists and engineers after World War II, many of whom were responsible for developing the V-2 rocket. One of these scientists was Magnus von Braun, who was responsible for developing the V-2 rocket. He claimed that his brother Wernher was the inventor of the V-2 bomb.

#2

To understand von Braun and his willingness to work on a weapon of mass destruction like the V-2 rocket, it must be understood that he simply saw the Nazi ballistic missile program as a means to an end. In his mind, the V2 was simply a prototype of rockets that would one day carry men into space.

#3

The Saturn V was the largest and most complex vehicle ever built. It was used to launch the Apollo and Skylab missions in the 1960s, and it first stage carried 203,400 gallons of kerosene fuel and 318,000 gallons of liquid oxygen needed for combustion.

#4

The space industry is based on the technology of the Apollo era, which was based on the V-2 design. This process of iterative design creates limitations in engineering thinking. You must be prepared to start from scratch to create something truly revolutionary.

#5

To get to Mars, SpaceX has estimated that we must reduce the cost of orbit by a factor of 10. This is a difficult task for NASA, which has never built a rocket before. SpaceX’s launch cost per kilogram of cargo is $1,100, which is well below the $14,000–39,000 per kilogram launch cost of United Launch Alliance, the lowest priced direct competitor for SpaceX.

#6

The philosophy of first principles design was introduced by Elon Musk, and it states that technology is only as powerful as the ability for real people to use it. Simple, usable functionality is what makes for technological power.

#7

The block of wood prototyping idea may have come from Jeff Hawkins, the lead inventor of the PalmPilot. When he first imagined the PalmPilot, he carried blocks of wood the size of the device he would later build around with him every day.

#8

If you were starting from scratch today, building a banking system for the world, a banking system for a single country or geography, or just designing a bank account, would you build it the same way it has evolved today.

#9

The banking system we have today is a direct descendant of the banking system from the Middle Ages. The paper currency we have today is an iteration on coins used before the first century. Today’s payments networks are iterations on the 12th century European network of the Knights Templar.

#10

The three main functions of a bank are to store value, to transfer money, and to provide access to credit. The essence of what you want from your bank is not necessarily a specific product, but rather the ability to keep your money safe, send money fast, and save money for something.

#11

In a world