Square goes all-in with the Blockchain

Square is making a significant change in financial technology. Investing in this company is a gift that keeps on giving, and there's more to be revealed.

However, the season I'm speaking about doesn't have to do with gifts or profit. It's about a significant name change.

In the future, Square will now be called "Block."

The new Square branding resembles Facebook's recent shift into "Meta." Much in the same way as Facebook seeks to take over the METAverse for its own. The company would like to claim Blockchain.

The company was a key market player in financial services because of its excellently designed Points of Sale (PoS) terminals, which made it easy to perform the process of credit card payments for smaller and medium-sized enterprises.

The company has built on its experience in payments to provide a broad range of products and services that helped its customers streamline and automate their operations.

In many ways, the company knew its customer companies more than they did. By using machine learning technology, The company would be able to analyze transactions in real-time and offer loans to businesses using a few keystrokes at the Square terminal - Without the human underwriters.

The company secretly launched its Cash App several years ago. The majority of people didn't know it was part of Square. The simple design and user-friendly has made it one of the most popular peer-to-peer payment apps available: This, however, was nothing more than a trojan horse.

It didn't take long before Square introduced the capability to buy bitcoin using The Cash App. It was then possible to trade stocks. You can also obtain a credit card or even transfer paper money into your digital wallet via Cash App.

Naturally, it is no surprise that Cash App has been on an upward growth track that is much faster than the company's primary business. Indeed, Cash App-related revenues accounted for more than 63% of Square's revenue this year, a jump from only 24% in. I'm expecting the share in 2021 to be more substantial.

Similar to Facebook, the company is going all-in into Web 3.0. Facebook - sorry, "Meta" - will focus on creating metaverses with a concentration of social networks. The company is taking on the financial services aspect of Blockchain technology, emphasizing on bitcoin, hence "Block ."

Alongside continuing to build upon the success of the Cash App, Square is building an electronic wallet that will allow its users to secure their bitcoins and possibly other digital currencies (NFTs?). There is speculation of Square developing and manufacturing a bitcoin mining device.

This is fascinating since Square has experience designing and manufacturing Points of Sale hardware terminal devices.

This experience, together with the company's straightforward user interface, could result in an incredible consumer product. Imagine seeing the state that your bitcoin mining machine is operating at home, visible on the palm of your hand when you use the Cash App. Excellent.

Square went all-in with this brand innovative Block theme. The new website for Square is available at the block.xyz. It's pretty cool. It's very Web 3.0-esque; however, I feel that they may have pushed a tad too far.

This article was printed from TradingSig.com

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