Jack Dorsey is no fan of Mark Zuckerberg. He once told Rolling StoneI’m afraid during dinner at Chez Zuck, Facebook CEO serve him a goat he killed, and cold meat. More recently, he entertaining Zuckerberg’s super-reverse ambitions. However, unwittingly, today, the CEO of Square found himself making a similar move with the social media mogul, who changed Facebook name to the Meta just five weeks ago.
The Square is now a Block. Understood? Block.
Just as Meta retains the Facebook name for its flagship product, Block will continue to use Square for its “merchant” business, which includes payment systems and merchant banking products. . The new name, which goes into effect today – the 12th anniversary of Square’s launch – reflects the company’s broader range of businesses, which now include the Personal Pay Cash App, the Tidal music service, and the Tidal music service. crypto-based open developer platform it calls TBD54566975.
In the statement announcing the transformation, Block marvels at the meaning contained in its new moniker: “Building blocks, neighborhood blocks and their local businesses, communities come together in block parties full of music, a block chain, a piece of code, and obstacles to overcoming.” Buried in the middle of that list is what most likely drove the change: blockchain. Dorsey in particular has embraced the crypto revolution, almost to the point of having stickers on his products that say “Bitcoin Inside.” (By the way, the company’s Square Crypto division will now be called Spiral, although the company didn’t provide a similar word-link list for that.)
Here’s another language feature: Just like Alphabet, did a similar move when renamed from Google and calls its various businesses “betting,” Block will call parts of it “building blocks.”
Block says everything else at the company will be the same, with employees joining in on everything they’ve done before, except for the new email address. The company’s new website will be located at block.xyz; block.com seems more appropriate to belong to a Stealth Cryptocurrency Company. For now, the company’s NYSE SQ stock symbol will remain unchanged.
