Square Rebrands to “Block”

• Digital payment company Square has announced that it will be changing its name to “Block” in a speculated shift towards blockchain technology.

• The rebranding will function similar to Google’s parent company “Alphabet”, where Square will be placed under the Block parent company along with music and video streaming platform Tidal, the Cash App payment application, and the new decentralized Bitcoin exchange project “tbDEX".

• “Block references the neighborhood blocks where we find our sellers, a blockchain, block parties full of music, obstacles to overcome, a section of code, building blocks, and of course, tungsten cubes”, said Square. “We’ve been working to make this change for over a year, and it only represents a change of our official corporate name, not our purpose, our vision, our structure or how we operate.”

• The announcement comes days after Square CEO Jack Dorsey resigned from his CEO position at Twitter. Many speculate that Dorsey would use this opportunity to focus more on cryptocurrency and blockchain development.