Overstock expands its blockchain tZero division in Ireland

The Emerald Isle is now a hot spot for technology talent and a corporate tax haven.

US retail giant Overstock is reportedly expanding its blockchain tZero wing with new hires in Ireland.

The Utah-based e-commerce company is looking to hire software Golden Profit and development engineers to work in its blockchain tZero subsidiary, the local technology news agency Silicon Republic reported on 10 November.

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As reported, tZero’s new hires are part of a new team at Overstock’s headquarters in Sligo, in the west of Ireland. The online retailer already employs 90 people working in artificial intelligence, research and development and machine learning.

Overstock’s development manager, John Forde, said tZero operates in a „fast growing digital stock market“, he said:

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„It’s an exciting time for Overstock Ireland to be working with tZero to expand in this area. It provides diversity in terms of technology and business expertise and allows us to provide exciting and challenging roles here in the North West.
According to Overstock’s Q3 2020 earnings report, tZero’s revenue grew 97% year-on-year to $11.1 million in Q1 2020. However, tZero was still not profitable, losing $12.3 million in the third quarter.

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Overstock was one of the first major companies to announce support for Bitcoin (BTC). After launching the tZero value token exchange in late 2016, Overstock also completed an initial $134 million currency offering for tZero in August 2018

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