Mastercard Labs in their Leopardstown, Ireland office plans to hire 175 new experts in the technology field to help push blockchain applications. Their objective is to help find more efficient and secure payment methods.
Mastercard Ireland’s country manager Sonya Geelon said that Mastercard was "driving projects that promote financial inclusion at home and abroad, and are working to provide consumers, businesses and governments with the most innovative, safe and secure ways to pay.”
In a March 2018 story in the Financial Times, Mastercard said they were very open to a central-bank issued cryptocurrency. MasterCard’s senior executive Ari Sarker said that if governments were to create national digital currency backed by regulations they would be very interested. Nevertheless, Sarker aslo mentioned that MasterCard was running a Bitcoin pilot program in Japan that allowed holders to cash out their Bitcoin with Mastercard.
A patent application titled "Method and system for identity and credential protection and verification via blockchain" is evidence of Mastercard's plans for the company's future and something other credit agencies are likely to adopt.