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US retail giant Overstock is reportedly expanding its wing tZero blockchain with new hires in Ireland.
The Utah-based ecommerce company is looking to hire software engineers and devops to work on its blockchain and security token subsidiary tZero, local tech news agency Silicon Republic reported on Nov.10.
As reported, the new hires for tZero are part of a new team at the Overstock headquarters in Sligo, West of Ireland. The online retail company already employs 90 people working in AI, research and development, and machine learning.
Overstock senior development manager John Forde said tZero operates in a “fast growing digital securities market”, stating:
“It is an exciting time for Overstock Ireland to work with tZero to expand into this area. It provides diversity in terms of both technology and business domain and allows us to provide exciting and challenging roles here in the Northwest. “
According to Overstock’s third quarter 2020 earnings report, tZero increased its revenue 97% year-on-year to $ 11.1 million in the first quarter of 2020. However, tZero was still unprofitable, losing $ 12.3 million. of dollars in the third quarter.
Overstock was one of the first major mainstream companies to announce support for Bitcoin (BTC). After launching the tZero security token exchange in late 2016, Overstock also completed an initial $ 134 million coin offering for tZero in August 2018.
