Overstock Floats Blockchain R&D Center in Ireland 

Sandeep Kumar Mishra by Sandeep Kumar Mishra - 01:31 PM Oct 10, 2019
Overstock Floats Blockchain R&D Center in Ireland 

Overstock Floats Blockchain R&D Center in Ireland

E-commerce giant Overstock has established a blockchain news research and development center in Ireland. In a press release that was published on 9th October, it was revealed that the new R&D center in Ireland is situated in “DA’s flagship North West business park in Sligo”. The center is all set to make its hundredth hire from amongst the Irish populace before the year 2019 ends. Currently, the center has about 80 technologists.


An Investment of Over $1 million

The press release also revealed that the R&D center in Ireland had cost the e-commerce company €1 million ($1.1 million). David Kenny, the vice-president, and site-lead of the e-commerce giant, said that they were delighted to have the entire team under one roof. According to him, it was the validation of Overstock’s choice of the North West as its operational base. He stated that that was an excellent place to do business and build high-performance teams for software development. He further added that the blend of diverse career paths, cutting edge tech environment, and the excellent work-life balance had gone down very well with the techies. This, he said, added as an incentive for people who continue to join their team. The release also made it clear that apart from the blockchain, the new campus will also focus on developing innovations in the e-commerce sector and machine learning domain.


Tough Road Ahead

However, not everything is okay and going smooth for the company. While the opening of the R&D center comes as welcome news for the organization, it finds itself in the middle of a controversy, which seems to have done substantial damage to its reputation. A complaint filed in Utah has alleged that the former CEO of Overstock, Patrick Byrne, and the former CFO Greg Iverson were involved in securities fraud. Therefore, it remains to be seen how significant an impact the recent opening of the R&D center in Ireland can make on the company’s fortunes.

About The Author
Sandeep Kumar Mishra

Sandeep Kumar MishraHi, I am Sandeep, an avid cryptocurrency enthusiast, and a keen & passionate blogger. I love keeping track of the latest social media trends and other hot topics in the digital marketing space, which I love to share with readers like yourselves. You can follow me on LinkedIn and Twitter, too if you like my content.