Block's Purpose Is Economic Empowerment

Jack Dorsey'south mobile payments firm Foursquare has announced a new name for the visitor, Cake.

The new proper noun will apply to the company as a whole, information technology said, comprising Square and the other businesses it owns – Cash App, the music streaming service Tidal and cryptocurrency business TBD54566975.

Mr Dorsey is well known for his interest in cryptocurrencies and the blockchain technology that powers them, and the name change appears to advise the business concern will have a greater focus on these areas in the futurity.

Block said it had chosen to retain the Square proper noun because it had become synonymous with its mobile payment business organization, and instead wanted to highlight the company'south growth since its cosmos in 2009.

"We built the Foursquare brand for our seller business, which is where it belongs," Mr Dorsey said.

"Block is a new proper noun, but our purpose of economic empowerment remains the same. No affair how nosotros grow or modify, we will continue to build tools to help increase admission to the economy."

In its own argument on the change, Square said Block "references the neighbourhood blocks where we observe our sellers, a blockchain, block parties total of music, obstacles to overcome, a section of lawmaking, building blocks", and the name change had been in the works for about a year.

On Monday, Mr Dorsey announced he had resigned from his other major corporate part, every bit chief executive of Twitter, maxim the social media behemothic was ready to move on from its founders.

The announcement is the second major tech rebrand in recent months.

In October, Facebook said it was rebranding as Meta, a new name for its parent company under which Facebook, Instagram, WhatsApp and its other services would sit.

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Block's Purpose Is Economic Empowerment,

Source: https://www.irishexaminer.com/business/technology/arid-40757553.html

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