Jack Dorsey, the former CEO of Twitter who co-founded Square in 2009, announced on December 1 that the company would change its name to To block. It is the parent company of CashApp and Tide. The name, which is reminiscent of “blockchain”, draws parallels with Meta the recently announced new name for Facebook.
Tax preparation company H&R Block is not happy, given that the two services have overlapping offers.
H&R Block says new name Square competes directly with Block in several areas of financial services, including recently purchased tax service named Taxes on cash applications – formerly Credit Karma Tax – a $ 0 tax filing service similar to H&R Block.
There can only be one “Block” financial company, it seems. We could simplify the tax code to make H&R Block unnecessary, but it’s unlikely is coming soon, so H&R Block and Block, Inc will take the matter to court.