MicroStrategy today announced its latest innovation, a decentralized identity (ID) platform built on the Bitcoin network named MicroStrategy Orange. MicroStrategy World: Bitcoin for Enterprise 2024 event.
JUST IN: MicroStrategy launches enterprise platform for building decentralized identity applications #bitcoin — MicroStrategy Orange 👀 pic.twitter.com/P5PXz80kSD
— Bitcoin Magazine (@BitcoinMagazine) May 1, 2024
“Today, we would like to introduce MicroStrategy Orange, an enterprise platform for building decentralized identity applications on the Bitcoin blockchain,” said Cezary Raczko, Executive Vice President of MicroStrategy. “The platform consists of three basic parts. At its core is the cloud, a hosted service that allows us to issue these identifiers to users and organizations.”
The announcement of MicroStrategy Orange marks another milestone in the integration of Bitcoin into enterprise solutions. The platform is designed to help organizations use and manage decentralized identity applications powered by the Bitcoin blockchain, leveraging its robust security and immutability capabilities.
Raczko further explained that this new innovation will enable the deployment of packaged applications that run on the MicroStrategy Orange platform. “Orange apps are intended to 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 VP of Engineering. “What is clear is that all Bitcoin wallets out there, whether custodial or non-custodial, must have built-in functionality to create a Bitcoin-based digital identity. Many messaging platforms , I struggle with the same challenge with email: “What do I do when I receive a text message?” on these different messaging platforms. I would like to include a check. ”
“And another opportunity that we see and want to pursue is integrating digital identities based on Bitcoin with this larger verifiable credential ecosystem, which opens up some very interesting use cases. There will be many more,” concluded Raczko. “I can now prove my identity, which is fixed in Bitcoin, by presenting my university degree, course certificates issued by hyperscalers, medical records, and all in a decentralized way. But the ultimate identity is alive and fixed in the Bitcoin blockchain.”
In early February of this year, MicroStrategy announced During the presentation, the company called itself “the world’s first Bitcoin development company.” Since then, MicroStrategy Orange became the first Bitcoin-related innovation announced by the business intelligence and software company.
Read the full MicroStrategy Orange announcement here. here.
