Jack Dorsey Square is now a block

Jack Dorsey Not a fan of Mark Zuckerberg. He once said Rolling StoneAt dinner at Chez Zuck, the Facebook CEO presented him with a goat he had killed, and the meat was cold. Recently, he mocked Zuckerberg’s indirect ambitions. However, unintentionally, the Square CEO today finds himself making a similar move to the social media mogul who changed Facebook’s name to Meta just five weeks ago.

The box is now a block. I got you? roadblock.

Just as Meta retained the Facebook name for its flagship product, Block will continue to use Square for its “seller” business, which includes payment systems and banking products for merchants. The new name, which goes into effect today — the 12th anniversary of Square’s launch — reflects the company’s broader scope of business, which now includes the personal payment app Cash, the Tidal music service, and an open, crypto-based development platform. calls TBD54566975.

In her statement announcing the switch, Block was stunned about the connotations of her new moniker: “Building blocks, neighborhood blocks and local businesses, and communities coming together in block parties filled with music, blockchain, a chunk of code, and the obstacles to overcoming .” Buried in the middle of that list is the one that most likely drove the change: the blockchain. Square, and especially Dorsey, has embraced the crypto revolution, almost to the point of having a label on its products that says “Bitcoin Inside.” (By the way, the company’s Square Crypto division will now be called Spiral, although the company hasn’t provided a word binding list similar to that.)

Here’s another language perk: Just as with Alphabet, which made a similar move when it changed its name from Google and called its various businesses “bets,” Block will refer to its divisions as “building blocks.”

Block says that everything else in the company will be the same, with employees participating in everything they did previously, except for new email addresses. The company’s new website will have the address block.xyz; The seemingly favorite block.com belongs to a stealth cryptocurrency company. Currently, the company’s NYSE ticker symbol SQ will remain unchanged.