Jack Dorsey is developing an economic platform (Blocks)

[noorman0]

It's actually quite surprising that Jack Dorsey has resigned from twitter,

not sure anyone has heard but,

I resigned from Twitter

while previously planning (perhaps already active) adding a btc tip feature which entices the community.

Currently, Jack wants to focus on his platform, "Square" which has also been renamed to "Blocks" (source), a parent platform that includes subsidiary platforms including Square itself and several new platforms that are all financial services. This is nothing but similar to Zuck's steps to change the name Facebook to Meta as the parent platform.

With his new brand name, it's clear that Jack wants to focus more on blockchain space. Will Jack be the next person to influence the global economy, especially bitcoin, to rival Elon's influence as the richest man? Keep in mind that Jack is very supportive of bitcoin, and I don't think he's going to create his own version of a new cryptocurrency.

Blocks is opening many job vacancies, find your opportunity here. https://block.xyz/careers

[DaveF]

It's actually quite surprising that Jack Dorsey has resigned from twitter,

not sure anyone has heard but,

I resigned from Twitter

while previously planning (perhaps already active) adding a btc tip feature which entices the community.

Currently, Jack wants to focus on his platform, "Square" which has also been renamed to "Blocks" (source), a parent platform that includes subsidiary platforms including Square itself and several new platforms that are all financial services. This is nothing but similar to Zuck's steps to change the name Facebook to Meta as the parent platform.

With his new brand name, it's clear that Jack wants to focus more on blockchain space. Will Jack be the next person to influence the global economy, especially bitcoin, to rival Elon's influence as the richest man? Keep in mind that Jack is very supportive of bitcoin, and I don't think he's going to create his own version of a new cryptocurrency.

Blocks is opening many job vacancies, find your opportunity here. https://block.xyz/careers

I don't think it's surprising. Twitter is....well Twitter. You can add / tweak / modify things but it's not going to change that much.
Creating Block and putting all those businesses under it allows him to expand a bunch of things in a bunch of different ways without risking doing damage to what Twitter is.
And it allows him to step back from it and do the blockchain & financial stuff.

-Dave

[keyscore44]

Just another wise person and a good businessman who knows where the financial market will go and how to profit from it.
"Square", now "Block", is a company that deals with payments, but mostly with cards payments. I think one of his ideas might just be to improve card payments by introducing blockchain.

[mk4]

Just another wise person and a good businessman who knows where the financial market will go and how to profit from it.
"Square", now "Block", is a company that deals with payments, but mostly with cards payments. I think one of his ideas might just be to improve card payments by introducing blockchain.

Well, bitcoin is finance in the first place, so it fits their core business really really well.

I really wouldn't limit their company to only payments though; let's not forget that Square/Block now owns Tidal, a Spotify competitor. Nothing's really preventing them from going off-course.

[Darker45]

I hope I don't sound weird on this but it is interesting how Jack Dorsey explained his resignation from the company he co-founded in 2006. He sounded so Bitcoinish. Apologies for the word. There's just no better way of putting it. Dorsey seems to be doing a Satoshi in saying that Twitter being headed and led by its founder is "severely limiting" and has "a single point of failure." He further said that he had "worked hard to ensure this company can break away from its founding and founders.”^[1] That's what Satoshi did, who also made a somewhat similar pronouncement before leaving for good. And to think that Dorsey is probably leaving Twitter to give more focus on his Bitcoin-related endeavors. The man looks so Bitcoin-inspired.

[1] https://labusinessjournal.com/news/2021/dec/06/twitter-ceo-jack-dorsey-steps-down/

[ABCbits]

It's not like he compltely remove himself from twitter. He still have twitter shareholders which could used to influence twitter action.

Blocks is opening many job vacancies, find your opportunity here. https://block.xyz/careers

I can't believe they actually use .xyz rather than .com or .io. For a second i thought you include wrong link.

[dkbit98]

With his new brand name, it's clear that Jack wants to focus more on blockchain space. Will Jack be the next person to influence the global economy, especially bitcoin, to rival Elon's influence as the richest man? Keep in mind that Jack is very supportive of bitcoin, and I don't think he's going to create his own version of a new cryptocurrency.

It is well known that Jack and his Blocks (ex square) team is working on Bitcoin decentralized exchange TBdex, and on new cryptocurrency hardware wallet.
They are still in infant early phases for both projects and I don't expect to see anything release for next year or two, but let's wait and see.
I am not sure if he is an ego maniac like Elon Musk, but I don't think he will go down the route of creating his own shitcoin or investing in some crap like Elon.

[PrimeNumber7]

It's not like he compltely remove himself from twitter. He still have twitter shareholders which could used to influence twitter action.

Dorsey has been fighting twitter shareholders for years. He only owns about 2% of twitter, and does not have much influence.

With his new brand name, it's clear that Jack wants to focus more on blockchain space. Will Jack be the next person to influence the global economy, especially bitcoin, to rival Elon's influence as the richest man? Keep in mind that Jack is very supportive of bitcoin, and I don't think he's going to create his own version of a new cryptocurrency.

No, he is trying to ride a trend to get rich quickly. Compared to coinbase, square is overvalued by a factor of about 5 (so if coinbase's price stays flat, the price of block should fall by about 80%).

Blocks is opening many job vacancies, find your opportunity here. https://block.xyz/careers

I don't think it would be a good idea to work for any company that Dorsey is running (or even is associated with).

[suchmoon]

They are still in infant early phases for both projects and I don't expect to see anything release for next year or two, but let's wait and see.
I am not sure if he is an ego maniac like Elon Musk, but I don't think he will go down the route of creating his own shitcoin or investing in some crap like Elon.

We'll know if he starts building spaceships, which seems to be a major hint as to the evilness of a billionaire.

Seriously though, I liked Square, it made the otherwise idiotic credit card processing system bearable for a small business, but unfortunately many of those financial startups eventually branch out into predatory lending and shit like that once they go public and need to show exponential revenue growth, and Square is no exception here. So chances are that they will fuck Bitcoin payments up with some contrived fiat-inspired nonsense.

[hugeblack]

I don't know, but if we believe that Bitcoin will change with the efforts of one man, then this means that the currency is still in its infancy and needs more maturity. Jack Dorsey has been subjected to many criticisms of Twitter management, but some of the reasons for his resignation are that he will support Bitcoin according to his method, which may not seem completely centralized .

Overall, we'll see what happens but it's good to see more people who see a future in bitcoin as a currency and not for price.

[DaveF]

No, he is trying to ride a trend to get rich quickly. Compared to coinbase, square is overvalued by a factor of about 5 (so if coinbase's price stays flat, the price of block should fall by about 80%).

Going to have to disagree with you there.
From what I see square is everywhere¹. Just about every small merchant I have been in lately is using them.
I think between their aggressive CC processing fees and cashapp integration and online ordering included for restaurants and so on they are just grabbing business.
Add in the payroll and banking stuff that they do and I really see them just taking over.

-Dave
¹ Admittedly it's a small everywhere, but all over the place in downstate NY and NYC, southern CT and northern NJ. Which is admittedly all urban / dense suburbia. For all I know they don't exist out of this area.

[bL4nkcode]

I can't believe they actually use .xyz rather than .com or .io. For a second i thought you include wrong link.

Most common/famous domain extension with the domain block is already taken since its considered as premium domain. Maybe some are for sale but with too high amount of course. .xyz is too suspicious and cheap extension actually but since the business is already established I guess the domain extension doesn't matter anymore.

[DaveF]

I just tried about 15 TLD and all of them are taken, so i can see why they decide to choose .xyz rather than longer domain with .com TLD (such as block-dev.com). Even so, it still give bad first impression even though their business already established.

I guess the other question is, if it's not .com does anyone care?
Followed by, if they do care did they do any research into what extensions matter?

I was thinking about it while driving home the other day and actually thought this is one of those things that I could see some mid level executive spending thousands of dollars and hours of time on getting research done to see what domain extensions appeal to which people.

We see here and think xyz is not a good thing, but I'll bet there is somebody someplace who put together a 90 minute power point presentation as to which domain extensions appeal to which demographic group.

-Dave

[pooya87]

it's clear that Jack wants to focus more on blockchain space. Will Jack be the next person to influence the global economy, especially bitcoin, to rival Elon's influence as the richest man? Keep in mind that Jack is very supportive of bitcoin, and I don't think he's going to create his own version of a new cryptocurrency.

A while back when Dorsey's tweets came coming out about bitcoin and how he praised it I said he may pull another Musk in the near future. Obviously he hasn't yet started FUDing bitcoin but at the same time he has been gaining popularity by "praising bitcoin" (like others did before him) and have been using that popularity to make money from different businesses he runs. From the exchange service to this and some more.

So I wouldn't really be surprised if he eventually created an altcoin and started spreading FUD about bitcoin at some point in near future. He certainly wouldn't be the first person to do something like this...

[DaveF]

it's clear that Jack wants to focus more on blockchain space. Will Jack be the next person to influence the global economy, especially bitcoin, to rival Elon's influence as the richest man? Keep in mind that Jack is very supportive of bitcoin, and I don't think he's going to create his own version of a new cryptocurrency.

A while back when Dorsey's tweets came coming out about bitcoin and how he praised it I said he may pull another Musk in the near future. Obviously he hasn't yet started FUDing bitcoin but at the same time he has been gaining popularity by "praising bitcoin" (like others did before him) and have been using that popularity to make money from different businesses he runs. From the exchange service to this and some more.

So I wouldn't really be surprised if he eventually created an altcoin and started spreading FUD about bitcoin at some point in near future. He certainly wouldn't be the first person to do something like this...

Unlike Musk he already has a commerce platform (cashapp) that deals with money and BTC so if he really wanted to go anti BTC it would easy to do since all he would have to do is add it / integrate it with an already existing financial platform. Personally I don't think he will. I think he is going to keep coming out with other apps / things to keep your BTC in his eosystem.
Add an exchange, add easier BTC payments to merchants, add more features to cashapp. All while making a percentage on every transaction.

-Dave

[PrimeNumber7]

I can't believe they actually use .xyz rather than .com or .io. For a second i thought you include wrong link.

Most common/famous domain extension with the domain block is already taken since its considered as premium domain. Maybe some are for sale but with too high amount of course. .xyz is too suspicious and cheap extension actually but since the business is already established I guess the domain extension doesn't matter anymore.

I just tried about 15 TLD and all of them are taken, so i can see why they decide to choose .xyz rather than longer domain with .com TLD (such as block-dev.com). Even so, it still give bad first impression even though their business already established.

The whois for block.xyz changed in mid-December. My guess is that Square (who was named square at the time) purchased the domain around that time.

No, he is trying to ride a trend to get rich quickly. Compared to coinbase, square is overvalued by a factor of about 5 (so if coinbase's price stays flat, the price of block should fall by about 80%).

Going to have to disagree with you there.
From what I see square is everywhere¹. Just about every small merchant I have been in lately is using them.
I think between their aggressive CC processing fees and cashapp integration and online ordering included for restaurants and so on they are just grabbing business.
Add in the payroll and banking stuff that they do and I really see them just taking over.

-Dave
¹ Admittedly it's a small everywhere, but all over the place in downstate NY and NYC, southern CT and northern NJ. Which is admittedly all urban / dense suburbia. For all I know they don't exist out of this area.

Square Block does seem to have a decently sized market share for credit card processing for small businesses. However payment processing is a very competitive business.

Most of Square's valuation seems to come from its Cash App business. They charge fees to do things like withdraw to their bank account "instantly" or withdraw from an ATM. I am actually surprised that anyone would pay for these types of services. Maybe I am just lucky that I am able to keep enough money in the bank so that I would never need to utilize this type of service.

[noorman0]

-snip-
So I wouldn't really be surprised if he eventually created an altcoin and started spreading FUD about bitcoin at some point in near future. He certainly wouldn't be the first person to do something like this...

Just came across old news, this should have been placed on the OP to solidify my opinion.

Square is going to make a hardware wallet for bitcoin

CEO Jack Dorsey said the company was considering one in June

Yeah, people should have their own doubts about a public figure. It could be that Jack is just taking advantage of his popularity or the momentum behind it all. Don't know, what kind of hard wallet is being developed (or this has been discontinued). If the wallet can't generate the privatekeys/seeds, that's clearly BS development.

[PrimeNumber7]

I just tried about 15 TLD and all of them are taken, so i can see why they decide to choose .xyz rather than longer domain with .com TLD (such as block-dev.com). Even so, it still give bad first impression even though their business already established.

The whois for block.xyz changed in mid-December. My guess is that Square (who was named square at the time) purchased the domain around that time.

It's interesting fact. But since it's .xyz domain, i wonder if they tried to get better TLD (such as .com or .io), but only owner of .xyz is interested to sell the domain.

Its possible that xyz was the first to respond, or other owners of other TLDs were able to find out that square was trying to buy “block.*” and tried to get exorbitant amounts for the domain.

I would think that a referral link on block.io would generate a decent amount of money, so a high price wouldn’t be completely unreasonable.

[noorman0]

Dorsey faces a nightmare with his new brand.

H&R Block is suing Block, the digital payments company previously known as Square, for trademark infringement.

The 65-year-old company said in a press release Thursday that CEO Jack Dorsey's company "appears to be taking a shortcut to capitalize on the well-known Block moniker. H&R Block alleged that the change is a "clear violation of Block's trademark rights" that might cause consumer confusion.

To be honest I just heard of H&RBlock company and I don't know if the service is bigger scale (not just 3 countries) because the reason for the lawsuit is to capitalize on the popularity of synonym brands even though the two are not exactly the same, not even sure that the name is more popular than a Jack Dorsey.

If so, I actually found several other companies that could potentially sue Dorsey in the future under the brand name "Block", such as Block.eu and BlockCRS. Was it just because of a Dorsey that he was sued?

[pooya87]

H&R Block is suing Block, the digital payments company previously known as Square, for trademark infringement.

This is very weird because the word "block" is not a special word that anyone can own as their own "brand". It is a generally used term in cryptocurrency world, for example there is a ton of explorers or exchanges that used the word "block" in their name (blockchain, blockchair, blockr,...).
It's not like they invented the word (something like "Microsoft") that they can own the right to this word!