Bitcoin

Overstock is expanding its tZero Blockchain business in Ireland

The American retail giant Overstock is reportedly adding new employees in Ireland to its tZero blockchain wing.

The Utah-based e-commerce company is looking for software and development engineers to work on its blockchain and security token subsidiary, tZero.Local tech news agency Silicon Republic reported on November 10th.

As reported The new tZero employees are part of a new team at Overstock’s headquarters in Sligo, Western Ireland. The online retail company already employs 90 people in the areas of artificial intelligence, research and development, and machine learning.

Overstock is expanding its tZero Blockchain business in Ireland
Overstock is expanding its tZero Blockchain business in Ireland

Overstock Development Director, John Forde said tZero operates in a “fast growing digital stock market”.in the following words:

“It’s an exciting time for Overstock Ireland to work with tZero to expand in this area. It offers diversity in terms of technology and business dominance and enables us to take on exciting and challenging roles here in the Northwest. “

According to Overstock’s earnings report for the third quarter of 2020 tZero achieved sales of 97% year over year in the first quarter of 2020, reaching $ 11.1 million. However, TZero was not yet profitable and lost $ 12.3 million in the third quarter.

Overstock was one of the first major companies to announce support for Bitcoin (BTC). After the start of the tZero Security Token Exchange at the end of 2016 Overstock completed an initial $ 134 million coin offering for tZero in August 2018.

Don’t stop reading:

Similar Posts