Is Block the Payments Company of the Future?
Block (NYSE: SQ) fell out of favor with investors near the end of 2021. The deterioration in investor confidence can be linked to reasons like:
All of the above could negatively impact Block's business model. Despite these aforementioned challenges, this financial services stock is still worth a closer look. Here's why.
Block was an early adopter of open protocols, driven by CEO Jack Dorsey's belief in its potential to transform payments and the rest of the financial industry. Open payment protocols refer to the non-proprietary rules and standards that facilitate the interoperability and exchange of value between different payment systems and platforms without intermediaries or centralized authorities. This approach can help mitigate the concentration of economic power in too few hands while promoting greater transparency, efficiency, and security, all while reducing costs.
Source Fool.com
