E-commerce Giant Overstock Opens Blockchain R&D Center in Ireland

E-commerce giant Overstock has opened a blockchain research and development (R&D) center in Ireland.

According to a news release published on Oct. 9, the firm’s new R&D center is located in “IDA’s flagship North West business park in Sligo” and is expected to make its 100th Irish hire before the end of 2019. Currently, it employs 80 technologists.

Over $1 million invested

Per the release, the move has cost the company over €1 million ($1.1 million). Overstock vice president and site lead David Kenny added:

“We’re absolutely delighted with our new home and getting all our teams back under one roof. It further validates Overstock’s choice of the North West as a great place to do business and build high performance software development teams. The combination of a diverse career path, a cutting edge tech environment and a great work life balance has really resonated with the techies who continue to join our growing team.”

The release specifies that — besides blockchain — the new campus will be also focused on developing innovations in the e-commerce and machine learning spaces. 

Currently, the company finds itself in the midst of a controversy after a new complaint filed in Utah accused Overstock’s former CEO Patrick Byrne and former CFO Greg Iverson of securities fraud.

As Cointelegraph reported in February, international tech and IT firm Cisco Systems opened its Co-Innovate Center in Singapore, which is also partially focused on blockchain.