Coinbase is reportedly asking employees to rate each other after interactions as part of an app-based pilot program.
The cryptocurrency company has been piloting an app that collects employees' evaluations of their colleagues, including their managers, after meetings and other interactions, The Information reported Monday, citing two people with direct knowledge.
Known as Dot Collector, the app was invented by Ray Dalio's hedge fund, Bridgewater Associates, and has been in use by Coinbase's HR and IT teams since the first quarter of this year, according to The Information.
In the app, employees review how well their coworkers demonstrate 10 core values at Coinbase, including things like communication and "positive energy," per The Information. They can share their input in the form of a thumbs up, thumbs down, or neutral review.
Staffers at the cryptocurrency company can only see the ratings they receive, The Information reported, citing a person familiar with the pilot.
Coinbase did not immediately respond to a request for comment.
Bridgewater Associates famously has a similar employee rating system in place. In a TED conference in 2017, Dalio explained how all of the firm's employees had company-issued iPads with an app called Dots where they rated each other in real-time on more than 100 attributes on a scale of 1 to 10.
"My objective has been to have meaningful work and meaningful relationships with the people I work with, and I've learned that I couldn't have that unless I had that radical transparency and that algorithmic decision-making," Dalio said at the time.
