Smart Contracts in Action: Siemens’ Blockchain Journey

Bitcoin, Fiat & Rock'n'Roll

How does Siemens use blockchain technology in cash management and payments

In this episode of 'Bitcoin, Fiat & Rock’n’Roll' (BFRR), Co-Host Manuel interviews Heiko Nix, global head of cash management and payments at Siemens Treasury.

After a short presentation of his Career at Siemens and how Siemens treasury operates, Heiko explains what cash management at a multinational corporation like Siemens looks like and which challenges such a large corporate brings for payments and cash management.

Heiko then explains which blockchain technology Heiko uses and explains the use cases of Blockchain in cash and treasury management he and his team is working on. The discussion continues on which business processes he aims to let smart contracts orchestrate and what the expected benefits are.

Further, we discuss how Siemens currently connects to the blockchains they use and how this might change as well as which consequences this might have to data sourcing and operating on a shared ledger with the bank providing the ledger.

In case you are interested in understanding cash management use cases and how bank blockchain adoption at a large MNC looks like, don’t hesitate to listen to this episode!

Episode on the 300 Mio EUR tokenized bond issuance of Siemens

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Kapitel

1. Intro (00:00:00)

2. How Siemens is using blockchain technology (00:00:14)

3. Introduction Heiko Nix and his background (00:02:13)

4. A day in the life of Heiko's team (00:05:06)

5. Challenges of a multi-national team-setup (00:07:37)

6. Promising usages of blockchain-technology (00:11:26)

7. Has Siemens a broader strategy or is it kind of wildfire R&D? (00:14:10)

8. What projects is Siemens working on? (00:17:04)

9. What exactly does Siemens aim to do? (00:23:16)

10. Smart Contracts & Blockchain (00:29:07)

11. Localization of Bank Accounts (00:38:34)

12. Two databases or one? (00:40:25)

13. Types of infrastructures (00:44:54)

14. Requirements for treasurers (00:53:28)

15. Corporate culture (00:58:16)

16. Wrap-up (01:00:08)