MicroStrategy today revealed its latest innovation, a decentralized identity (ID) platform built on the bitcoin network, called MicroStrategy Orange, in the bitcoin-for-corporations”>MicroStrategy World: bitcoin for corporations 2024 event.
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JUST IN: MicroStrategy launches enterprise platform to build decentralized identity applications in twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin — MicroStrategy Orange pic.twitter.com/P5PXz80kSD
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1785795672345583834?ref_src=twsrc%5Etfw”>May 1, 2024
“Today I would like to introduce you to MicroStrategy Orange, which is 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 fundamental pieces. At the center is a cloud-hosted service that allows you to issue those identifiers to your users and your organization.”
The introduction 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 using the bitcoin blockchain, taking advantage of its strong security and immutability features.
Raczko further explained that this new innovation allows you to deploy pre-packaged applications running on the MicroStrategy Orange platform. “Orange apps will be pre-packaged point solutions that address specific digital ID challenges,” he said.
“We see a huge opportunity and this is just the beginning,” said MicroStrategy's executive vice president of engineering. “Custodial or non-custodial, the obvious thing is that every bitcoin wallet out there should incorporate the ability to create a digital identity based on bitcoin. Many messaging platforms suffer from the same challenges as email. When you receive a text message, do you? “How do you do that? Do you know the person who sent you the text message… We would like to include an orange tick for these different messaging platforms.”
“And the other opportunity that we see and want to take advantage of is integrating bitcoin-based digital identity with this larger verifiable credentials ecosystem, which opens up another lot of very interesting use cases,” Raczko concluded. “Where I can now prove my identity anchored to bitcoin: with a university degree, with a course certification issued by a hyperscaler, with your medical history and present and verify them, all in a decentralized way. But with the maximum identity alive and being anchored to the bitcoin blockchain.”
In early February of this year, MicroStrategy x.com/BitcoinMagazine/status/1755359921699205578″>Announced as “the world's first bitcoin development company” during a presentation. Since then, MicroStrategy Orange has been the first bitcoin-related technological innovation that the software and business intelligence company has announced.
You can see the full MicroStrategy Orange announcement here.
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