Coinbase Asking Staff to Rate Each Other After Interactions

After meetings and other encounters, employees are apparently asked to rate one another on how well they embody 10 fundamental values.

As part of an app-based trial program, Coinbase is apparently asking employees to score each other after interactions.

According to The Information, which cited two people with direct knowledge, the cryptocurrency startup has been testing an app that collects employee ratings of their coworkers, including their supervisors, after meetings and other encounters.

According to The Information, the program, known as Dot Collector, was created by Ray Dalio’s hedge fund, Bridgewater Associates, and has been used by Coinbase’s HR and IT departments since the first quarter of this year.

According to The Information, employees use the app to score how successfully their peers display 10 essential values of Coinbase, including communication and “good energy.” They can give their feedback in the form of a positive, negative, or neutral rating.

According to The Information, which cited a source familiar with the pilot, employees at the bitcoin startup can only see the ratings they earn.

A request for comment from Coinbase was not immediately returned.

Bridgewater Associates is known for having a comparable employee rating system. Dalio described how all of the company’s employees had company-issued iPads with an app called Dots on which they rated each other in real-time on more than 100 traits on a scale of 1 to 10 at a TED conference in 2017.

“I’ve discovered that I couldn’t have meaningful work and meaningful connections with the people I work with until I had that radical transparency and that algorithmic decision-making,” Dalio remarked at the time.

Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, was the first to introduce the employee rating system.

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Dalio’s employees at the firm were all given iPads with the software Dots, which allowed them to rate each other in real-time on more than 100 traits on a scale of 1 to 10.

In a 2017 TED Talk, Dalio highlighted the concept of “radical transparency,” which encourages employees to rate each other honestly.

‘I’ve discovered that I couldn’t have meaningful work and meaningful connections with the people I work with unless I had that radical transparency and that algorithmic decision-making,’ Dalio remarked at the time.

Principles, a firm formed by Dalio, sells Dot Collector. Employees at Coinbase can rate coworkers based on the company’s ten cultural pillars, which include clear communication, efficient execution, and a good attitude.

Employees at Coinbase have been infamous for restricting pay negotiations and political discussions in recent years, so this new practice of employees evaluating each other has raised some concerns.

The corporation is developing an app that collects employee ratings of their colleagues, including their supervisors, after meetings and other encounters, in a Black Mirror-style approach.

According to The Information, Coinbase’s HR and IT departments have been using Dot Collector since the first quarter of this year.

According to The Information, Coinbase’s HR and IT departments have been using Dot Collector since the first quarter of this year.

Employees can use the app to rate their peers on a scale of one to ten core values, such as communication and positive energy.