In just Two days after appointing India-born Parag Agarwal as the new CEO of Twitter, founder Jack Dorsey is onto another thing. Furthermore, the Twitter founder, Jack Dorsey is noting his focus is now on developments in the blockchain and crypto space.
Notably, Jack Dorsey financial services firm Square Inc. announces its rebranding to Block Inc. Then, note a massive transition into blockchain. Also, the company confirms that Square Inc is now beyond just a financial services company. Of course, this is due to its recent acquisition of a majority stake in music streaming service Tidal.
Furthermore, the company CEO and cofounder Jack Dorsey explains better.
“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.”
So, Jack Dorsey concludes.
Notably, the date for the official transfer from Square Inc. to Block Inc. will be on December 10, 2021. But, the company’s NYSE ticker symbol SQ will not change by this time.
More so, the company has successfully added multiple businesses like Cash App, TIDAL, and TBD54566975. Also, Despite the rebranding, all these businesses will still maintain their individual brand.
So, Block Inc. will become an overarching system of different businesses together with a common purpose of economic empowerment.
Also, this includes a community of sellers, developers, individuals, artists, and fans.
Lastly, Jack Dorsey stepping down from Twitter means he will give more attention to developments in blockchain and crypto.
Also, Jack Dorsey is always a strong supporter of and believes in its ability in becoming the currency of the internet.
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