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This week, Jack Dorsey stepped down as CEO of Twitter. The next day, Square changed its name to Block Inc. The move clearly illustrates the company's direction moving forward. The name "Square" became synonymous with it's point-of-sale seller's business, and the executive team wanted to rebarand the parent company in a similar fashion as Facebook's Meta.
Square listed blockchain as a source of inspiration, alongside phrases like “building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music."
Square recently acquired Jay-z's music streaming service, Tidal, and has teased building DeFi and NFTs on top of Bitcoin. The Ember team is monitoring their developments closely.
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