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Community NewsNew World of Work

The ‘New World of Work’ isn’t the future – it’s the present!

By 1 February 2017No Comments

As the concepts and ideas around work continue to grow and change with technological innovations and societal expectations, it’s the companies who adapt that thrive in the ‘New World of Work’. Below are four companies who are approaching work with innovation and setting themselves apart.

The Yield
The Yield is an Australian technology company that is focused on the agribusiness sector. Established in 2014, its vision is to help feed the work without wrecking the planet. The Yield applies intelligent digital solutions to help customers deal with uncertain effects of weather on food production. One example of how the company has assisted is within the Australian oyster industry. Using the Microsoft IoT hum in the Azure cloud to create a system of sensors at 14 oyster harvesting sites in Tasmania, The Yield helped save an estimated $1.6 million dollars within the Tasmanian oyster industry. The technology allows the use of real-time salinity data from the leases, instead of rainfall data from the nearest weather station, allowing a greater time period for oyster farmers to get oysters out of the water when run off and contaminants start to accumulate.

Blockchain has been talked about in relation banking and contracts, but Webjet built the first-of-a-kind travel industry Blockchain solutions. Webjet is a travel booking service, helping customers to compare, combine and book flight deals, hotel accommodation, holiday package deals, travel insurance and care hire worldwide. However, with so many facets and processes, a single error in the transaction affects multiple parties and can have serious consequences. The use of Blockchain technology allows for these issues to be overcome, by instantly making and verifying transactions, streamlining payment processes and saving money through the distribution chain. Webjet is aiming to eliminate transaction errors by having an indisputable record of truth, and also improving processes with the rest of their partners. The Blockchain technology was built with Microsoft, and the digital solution is creating exciting opportunities for Webjet.
Commonwealth Bank
The Commonwealth Bank of Australia has built a Blockchain for debt capital markets which has been tested by Queensland Treasury Corporation for the issuance of semi-government bonds. The new technology is still waiting for regulatory approval until it can be operational, will eliminate settlement risk as the transfer of title is linked with the payment and the transaction is executed and settled instantaneously. The CBA’s development team used a ‘smart contract’ in order to establish the bond and manage the transfer of ownership, essentially eliminating the need for someone to manually process payments. It also eliminates risk, as the transaction is binary and instantaneous, both the title and payment is made at the exact same time otherwise neither occurs. The CBA also created a digital currency to facilitate payment through the Blockchain, but has called for the consideration of issuing a digital version of the Australian dollar to provide the market with more confidence.
Remote Year
‘Remote Year’ sees 75 digital nomads, individuals from around the world, on a journey across twelve countries for a period of a year. Embracing the remote office that technology can now offer them. They haven’t quit their existing jobs, but simply taken them on the road. The inaugural group saw contractors and freelancers, but also CEOs, software developers, client relation officers, marketing directors, statisticians, all areas of employment, all levels of seniority, all with a common purpose, to work remotely. Remote Year has taken its participants to ‘offices’ in England, Morocco, Argentina, the Czech Republic, Serbia, Bolivia, Malaysia, Cambodia, Chile, Peru, Thailand, Croatia and more. They provide each participant with accommodation, as well as work spaces with internet that are always accessible. But they also provide a chance to immerse yourself in the world, experience and learn about new countries and cultures, alongside people with the similar frame of mind, ready to dive into the uncertainty and lead the way into the future of work with an experience of a lifetime.
To learn more about Pendragon’s ‘New World of Work’ download the e-Book today.

Purnima Kabra