Overstock Rolls On State-of-the-Art Blockchain R&D Campus In Ireland, Over $1.1 Million Invested

US e-commerce and tech giant Overstock has announced that it has established a blockchain research and development center that will be based in Ireland.

In a press statement issued on Oct. 9, the company revealed that the new R&D base will be situated in ‘IDA’s flagship North West business park in Sligo’. The statement also stated that the center will employ its hundredth employee who will be Irish before the end of the year. At the moment, the center boasts of approximately 80 technologists.

The press statement also stated that the new R&D center in Ireland is worth more than €1 million ($1.1 million). According to the firm’s vice president who also doubles as the site head, David Kenny, the company was excited with the opening of the new center that will see all the teams under the same roof. Kenny explained that the new center was a validation of Overstock’s preference of the North West as a friendly area for business and the creation of high-performance teams for software development.

He added that the blend of varied career paths as well as high-quality tech environment coupled work-life balance had gone won excellently with the techies. This, he stated, was an added incentive for the numerous individuals who have continued to be part of their team.

Here is his exact quote:

“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 press statement was also categorical in that the new center will not only focus on blockchain but also on emerging innovations within the e-commerce sector as well as the machine learning domain.

Despite the opening of the new center, not all is smooth with the company. The tech giant is embroiled in a controversy which has contributed to negative effects on its reputation. A fresh complaint has been filed in Utah alleging that the immediate former Overstock CEO, Patrick Byrne as well as the former CFO Greg Iverson were in the middle of a securities fraud. In this case, it remains unclear whether the opening of the new R&D center will add to the company’s fortunes.

Cointelegraph reports that Overstock is following in the footsteps of IT firm Cisco which opened an innovative center in Singapore in February that also focuses on blockchain.

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Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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