That's used in Scotland and in parts of New Zealand with their electoral system, but it wasn't known when we had our experience of electronic voting. I think such was that experience that no Irish government is going to explore the effectiveness or otherwise of the Scottish system.
In many ways it's a good way to do it because it's quick and you can carry out a rather more sophisticated count that's perfectly accurate, which is not possible when you are counting 30,000 or 40,000 ballots by hand. The big downside is that in this country, election count day is a day on which people engage with politics, and you'd reduce that from 24 hours to 15 seconds, which I don't think would go down so well. I don't think people want the count to be quick here.