Square, the parent company for CashApp, Tidal, and other tech companies is changing its name to Block. Days after Square’s CEO Jack Dorsey, revealed that he will be leaving Twitter. It seems as if he is going headfirst into the “blockchain” space.
In the initial phases of the year, Square was one of the first tech companies to hold bitcoin on its balance sheet. That was a major move that further adds to bitcoin’s credibility at the time.
Other companies slowly followed by dabbling into the crypto market some with NFTs and others with partnerships.
It’s all net positive and given the resilience, the crypto market is establishing; it is here to stay. It seems like Square is taking a note from Facebook’s recent change to Meta which represents the “metaverse”.
The motive behind Square’s name change might be different from Facebook in terms of timing and purpose. The overall business goal might be somewhat similar.
Whether we are talking about “metaverse”, “crypto-verse”, “web 3.0” etc. All these buzzwords can be represented under one monolith of digitization. Further bridging the gap between digital and physical.
As companies are looking for new streams of revenue and ideas to capitalize on, we will see other companies who might also want to do a name change so that they can seem “hip” and “trendy” to the new generation of consumers.
