MicroStrategy today unveiled its latest innovation, a decentralized identity (ID) platform built on top of the Bitcoin network, called MicroStrategy Orange, at the conference. MicroStrategy World: Bitcoin for Business 2024 It happened.
JUST IN: MicroStrategy launches enterprise platform to build decentralized identity applications on #Bitcoin – MicroStrategy Orange 👀 pic.twitter.com/P5PXz80kSD
— Bitcoin Magazine (@BitcoinMagazine) May 1, 2024
“Today, I would like to introduce MicroStrategy Orange, an enterprise platform for building decentralized identity applications on the Bitcoin blockchain,” said Cezary Raczko, Executive Vice President at MicroStrategy. “The platform has three core parts. At its heart is a cloud-hosted service that allows you to issue these identifiers to your users and your organization.”
The unveiling of MicroStrategy Orange marks a new milestone in the integration of Bitcoin into enterprise solutions. This platform is designed to enable organizations to use and manage decentralized identity applications using the Bitcoin blockchain, while taking advantage of strong security and immutability features.
Raczko also explained that this new innovation allows you to deploy pre-packaged applications running on the MicroStrategy Orange platform. “The orange apps are what will be pre-packaged, and are point solutions that address specific digital identification challenges,” he said.
“We see a huge opportunity and this is just the beginning,” said MicroStrategy's Executive Vice President of Engineering. “What is clear is that every Bitcoin wallet, whether custodial or non-custodial, should include the ability to create a digital identity based on Bitcoin. Many messaging platforms suffer from the same challenges that email does. When you receive a text message, how do you… ? Find out who sent you the text message… We want to include an orange check mark for these different messaging platforms.”
“The other opportunity we see and want to pursue is integrating Bitcoin-based digital identity with the larger verifiable credential system which opens up a whole lot of other very interesting use cases,” Raczko concluded. “Where I can now have my identity linked to Bitcoin – with a university degree, with a course certificate issued by a hyperscaler, with your medical record and all submitted and verified in a decentralized way. But with the final identity that lives and lives being linked to the Bitcoin blockchain.”
Earlier this year in February, MicroStrategy Announce described itself as “the world's first Bitcoin development company” during the presentation. Since then, MicroStrategy Orange has become the first technology innovation involving Bitcoin announced by the business intelligence and software company.
The full announcement of MicroStrategy Orange can be viewed here.