MicroStrategy Announces Bitcoin-Based Decentralized Identity Platform Called MicroStrategy Orange
MicroStrategy today unveiled its latest innovation, a decentralized identity platform built on the Bitcoin network called MicroStrategy Orange, at its MicroStrategy World: Bitcoin for Enterprise 2024 event.
Recent Releases: MicroStrategy has launched an enterprise platform for building decentralized identity applications. #Bitcoin — MicroStrategy Orange 🙌 pic.twitter.com/P5PXz80kSD
— Bitcoin Magazine (@BitcoinMagazine) May 1, 2024
“Today I want to introduce MicroStrategy Orange, an enterprise platform for building decentralized identity applications on the Bitcoin blockchain,” said Cezary Raczko, senior vice president at MicroStrategy. “The platform consists of three basic parts: At its heart is a cloud of hosted services that can issue corresponding identifiers to users and organizations.”
The unveiling of MicroStrategy Orange marks a new milestone in integrating Bitcoin into enterprise solutions. The platform is designed to help organizations use and manage decentralized identity applications leveraging the Bitcoin blockchain by leveraging strong security and immutability features.
Raczko explained that this new innovation allows deployment of prepackaged applications that run on the MicroStrategy Orange platform. “The orange app is a pre-packaged point solution that solves a specific digital identification problem,” he said.
“We see tremendous opportunity, and this is just the beginning,” said MicroStrategy EVP of Engineering. “Whether custodial or non-custodial, what is clear is that any Bitcoin wallet must incorporate the ability to create a Bitcoin-based digital identity. Many messaging platforms suffer from the same problems as email. What do you do when you receive a text message? You can find out who sent you a text message…We want to include an orange check mark for these different messaging platforms.”
“And another opportunity we see and want to pursue is to integrate Bitcoin-based digital identities with this larger, verifiable credential ecosystem, which opens up a lot of other very interesting use cases,” Raczko concludes. I built it. “Now I can prove my identity anchored to Bitcoin. I can present it using my college degree, my course certificate issued by a hyperscaler, my medical records, and verify it all in a decentralized way. But my ultimate identity is my life and “It’s anchored in the Bitcoin blockchain.”
In early February of this year, MicroStrategy announced in a presentation that it was “the world’s first Bitcoin development company.” Since then, MicroStrategy Orange was the first Bitcoin-related technological innovation announced by the business intelligence and software company.
The full announcement about MicroStrategy Orange can be found here.
