- Binance CEO said he will implement the DOT iPad app in the company.
- CZ said Ray Dalio acknowledged not understanding enough about Bitcoin.
- DOT is one of the numerous subjects that CZ claimed to have learned from Dalion.
Binance CEO Changpeng Zhao (CZ) has hinted at adopting one of Ray Dalio’s employee management systems, DOT. He said that while responding to Dalio’s Bitcoin criticism.
CZ tweeted that he loves Dalio’s DOT employees’ rating system and would implement it at Binance. He counted the DOT system among several things that he could learn from the renowned hedge fund expert.
Dalio criticized Bitcoin earlier this week, describing it as “a tiny thing that gets disproportionate attention.” He also called Bitcoin an ineffective store of wealth. Dalio said that Bitcoin has no relation to anything, and its value is less than one-third that of MSFT stock.
The hedge fund manager’s Bitcoin criticism generated a lot of reactions from the cryptocurrency industry, including comments from CZ.
Unlike many fans of cryptocurrency that lashed out at Dalio, CZ was more courteous and made excuses for Dalio on his position. CZ said that he has yet to get Dalio into crypto, mentioning that Dalio acknowledged not understanding enough about crypto.
CZ linked Dalio’s opinion about Bitcoin to the fact that BTC’s movement has little to do with anything in particular. Therefore, being a hedge fund expert, Dalio would prefer an inflation-hedged stablecoin over Bitcoin which has shown to be a poor inflation hedge.
Dalio’s DOT was demonstrated in 2017 when he explained the implementation of the transparency-inclined rating system as a management tool in his company, Bridgewater Associates. Bridgewater employees used the iPad app to rate each other across over 100 attributes on a 1-10 scale. The process is transparent and democratic, with every employee seeing how others place them.
Dalio explained that his objective was to have meaningful work and relationships with the people that worked with him. Besides the DOT system, CZ also elaborated on several other attributes to learn from Dalio. However, he did not in any way imply to support Dalio’s opinion about Bitcoin.