Gadgets News

Square redesigns ‘Block’

Payments firm Square is planning to change its name to Block as cryptocurrencies and other blockchain technologies into a major part of its business. On Wednesday, the company announced it was going ahead with the restructuring process on December 10.

“The name has many meanings related to the company – building blocks, neighborhoods and local businesses, collections that come together for music-filled parties, blockchain, code sections, and the obstacles you have to overcome,” the company said. .

When Jack Dorsey joined Square in 2009 shortly before he became CEO of Twitter, the company’s only feature was reading its cards, which allow merchants to process credit card payments with their phones. Since then, his business has grown to include , and so on. This year, Square though . And it is the same growth from which the restructuring is designed to be integrated.

“We created a Square color for our Seller business, which is where it is located,” Dorsey said. “Block is a new name, but our goal of economic development is not the same. No matter how much we grow or change, we will continue to develop tools to help us grow our wealth. ”

This move comes the same week that Dorsey went down as . Since 2015, he has led Twitter and Square, a position that has ultimately led to pressure from fundraisers. . In many ways, the restructuring also reflects Dorsey’s well-known cryptocurrency interest. Besides, this is the man who wanted the world to know he had . He recently announced Square , and .

All sales supported by Engadget are selected by our writing team, independent of our parent company. Some of our articles include links to links. If you purchase something through one of these links, we may be able to find a support service for you.


Source link

Related Articles

Leave a Reply

Back to top button