MicroStrategy revealed its latest innovation today, a decentralized identity (ID) platform built on the Bitcoin network, named MicroStrategy Orange, at the MicroStrategy World: Bitcoin for Corporations 2024 event.
JUST IN: MicroStrategy launches an enterprise platform for building decentralized identity applications on #Bitcoin — MicroStrategy Orange 👀 pic.twitter.com/P5PXz80kSD
— Bitcoin Magazine (@BitcoinMagazine) May 1, 2024
"Today, I'd like to introduce MicroStrategy Orange, which is an an enterprise platform for building decentralized identity applications on the Bitcoin blockchain," said Cezary Raczko, Executive Vice President at MicroStrategy. "The platform consists of three fundamental pieces. At the heart of it is a service cloud hosted that allows you to issue those 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 empower organizations to use and manage decentralized identity applications utilizing the Bitcoin blockchain, leveraging its robust security and immutability features.
Raczko further explained that this new innovation allows you to deploy prepackaged applications that runs on the MicroStrategy Orange platform. "The orange apps are what's going to be prepackaged, point solutions that address specific digital identify challenges," he said.
"We see a huge opportunity and this is just the beginning," the MicroStrategy Executive Vice President said. "Custodial or non-custodial, the obvious thing is every Bitcoin wallet out there should incorporate the capability of creating a Bitcoin based digital identity. Many messaging platforms suffer from the same challenges that email does. When you get a text message, how do you know the person who sent you the text message...We would want to include an orange check for these different messaging platforms."
"And the other opportunity we see and we want to pursue is integrating the digital identity based on Bitcoin with this bigger verifiable credential ecosystem which opens up another large number of very interesting use cases," Raczko concluded. "Where I can now credential my identity anchored to Bitcoin — with a university degree, with a course certification issued by a hyperscaler, with your medical record and present those and have those verified all in a decentralized way. But with the ultimate identity living and being anchored to the Bitcoin blockchain."
Earlier this year in February, MicroStrategy announced itself as "the world's first Bitcoin development company" during a presentation. Since then, MicroStrategy Orange has been the first technological innovation involving Bitcoin that the business intelligence and software company has announced.
The full announcement of MicroStrategy Orange can be viewed here.
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