The developers will work from the MasterCard office in Leopardstown, Ireland, where the company’s research and development headquarters, MasterCard Labs, is headquartered. The new employees will work to create more efficient payment systems, according to a press release.
Sonya Geelon, field director of MasterCard Ireland, said the company is working to expand access to financial services.
She added in a statement:
It’s a remarkable development, given that MasterCard has been looking at Blockchain applications for some time now.
The company launched a set of experimental APIs based on Blockchain in 2016, mentioning that its goal was “to give developers the opportunity to work on emerging technologies that we have not yet commercialized”. Last October, the company announced that it would use these programs to facilitate transactions between companies.
MasterCard’s Blockchain ambitions are also illustrated by their efforts to obtain patents related to technology.
Last September, a presentation described a blockchain system that recorded “purchase orders, invoices and transaction data”. Two months later, another MasterCard application described Blockchain-based solutions aimed at accelerating transaction settlement times