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Ex Twitter CEO Jack Dorsey Changes His Payment Firm ‘Square’ Name To “Block” As Part of Extensive Push Into Crypto

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At a packed conference in Miami in June, in front of thousands of attendees, Jack Dorsey told what his true passion was: “If I wasn’t on Square or Twitter, I would be working on Bitcoin.”



On Monday, Dorsey announced he would be leaving Twitter to focus more on blockchain and decentralization. Long before the surprise news, Dorsey had laid the foundation for his next chapter and provided both companies Twitter and Square with crypto-related projects.

 

 

Dorsey’s broader vision is based on the principle of “decentralization,” that technology and finance should not be concentrated in a handful of gatekeepers, as they are today.

The name change comes just two days after Jack Dorsey stepped down as CEO of Twitter.

Jack Dorsey’s payment firm Square is renaming the name of its business to “Block,” according to an official Twitter announcement. The change of name will become official on December 10th.

 

The name change shows the company’s desire to more aggressively integrate decentralized and blockchain technology, according to the company the name change has been in the works since last year.

In a press release Jack Dorsey said:

“We built the Square brand for our Seller business, which is where it belongs, Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.

In addition to the name change from Square to “Block”, the “Square Crypto” will be renamed “Spiral”. However, Square symbol of the New York Stock Exchange will remain the same as SQ.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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