In a report published by Malaysia Productivity Corporation (MPC), the country’s productivity growth is increasing and proven to be outpacing other developed nations in the year of 2017 to 2018.
The growth is recorded to be increasing by 2.2% but Malaysia lagged behind in terms of productivity per worker and productivity per hour of 2.8%. The countries leading the two types of productivity are Singapore, the US, Australia, Japan and Korea.
Why Productivity Enhancement Is Important?
Productivity means the efficiency in the use of resources such as raw materials, labor, capital, energy, information and more. The focus of this article is productivity in terms of workforce.
When a company has a productive workforce, it will be a factor contributing to the success of the company. For workers, productivity increases motivation, improves work culture and increases self-esteem as well as the co-workers’.
What is XRP Tip Bot?
XRP Tip Bot (XTB) is a tipping system that uses XRP cryptocurrency as reward. The system was built by Wietse Wind, a software program developer with 15 years of industrial experience. It was initially invented to give appreciation for Reddit and Twitter users.
Peer-to-peer Reward Program
In human resource management, peer-to-peer (P2P) appreciation is a strategy to increase workers’ productivity. While there are many other systems such as management rewards, best employee, employee recognition and more, the P2P program has its own advantages and disadvantages.
Among the advantages possessed by this program are as follows:
- Increase interaction between workers
- Foster a healthy work culture
- Build a good relationship and a harmonious work environment
- Increase trust between one another and the company
- Improve work performance
In order to implement an effective P2P program there are several factors involved, such as:
- Programs must be officially recognized
- All employees have the ability to give and receive without favor
- Programs need to be easy to use and accessible everywhere
- Management needs to be a role model and engage with the program
For example, when an employee does something nice and helpful, the employer or a colleague can show their appreciation by rewarding the employee in the form of words, gifts, incentives, and more.
P2P Program Through XRP Tip Bot
The capabilities and advantages that XTB possess are the factors needed for a successful P2P program. In addition, this initiative will introduce blockchain technology and cryptocurrency to the employees.
Apart from technological advantages, XRP is also fast in terms of implementation and rewarding unique incentives. XRP cryptocurrencies are not just numbers that you see in your tip bot, they do have a value in ringgit.
The use of XRP can also help employees to do similar transactions to other cryptocurrencies as it offers transparency, privacy, security and transactions without borders. In a way, cryptocurrency has the potential to become the future currency.
Ripple, a company that implemented XRP has partnered with various financial institutions around the world to increase their usability and credibility. They are also expected to be an important platform in the future.
In conclusion, the use of XTB is one of the exciting options to introduce blockchain technology and cryptocurrency to people. The use of XTB also facilitates the implementation of P2P programs within a company without the need for high costs.
P.S.: We at Techcryption use XTB as the P2P program.
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Experienced for only two years in journalism industry would not be enough for her dedication in conveying informational news to readers. As a Malay Journalist in Techcryption-focusing on future technology, is something new for her to 'dive in' more.