Payments Giant Square to Change its Name to Block to Embrace Blockchain

TokenInsight reports that former Twitter CEO Jack Dorsey's payments company Square is renaming its corporate entity "Block", according to a company announcement on Wednesday. The change will take effect on December 10. The name change stems from the company's desire to embrace decentralisation and blockchain technology more deeply, and says the name change has been in the works for the past year. However, Block's NYSE code will remain SQ, the company wrote on Twitter.