MicroStrategy Announces Decentralized ID Platform On Bitcoin Called MicroStrategy Orange

MicroStrategy revealed its newest innovation at the moment, a decentralized identification (ID) platform constructed on the Bitcoin community, named MicroStrategy Orange, on the MicroStrategy World: Bitcoin for Firms 2024 occasion.

JUST IN: MicroStrategy launches an enterprise platform for constructing decentralized identification purposes on #Bitcoin — MicroStrategy Orange 👀 pic.twitter.com/P5PXz80kSD

— Bitcoin Journal (@BitcoinMagazine) May 1, 2024

“At the moment, I might prefer to introduce MicroStrategy Orange, which is an an enterprise platform for constructing decentralized identification purposes on the Bitcoin blockchain,” mentioned Cezary Raczko, Govt Vice President at MicroStrategy. “The platform consists of three elementary items. On the coronary heart of it’s a service cloud hosted that permits you to difficulty these identifiers to your customers and your group.”

The disclosing of MicroStrategy Orange marks a brand new milestone within the integration of Bitcoin into enterprise options. This platform is designed to empower organizations to make use of and handle decentralized identification purposes using the Bitcoin blockchain, leveraging its strong safety and immutability options.

Raczko additional defined that this new innovation permits you to deploy prepackaged purposes that runs on the MicroStrategy Orange platform. “The orange apps are what is going on to be prepackaged, level options that tackle particular digital determine challenges,” he mentioned.

“We see an enormous alternative and that is only the start,” the MicroStrategy EVP of Engineering mentioned. “Custodial or non-custodial, the plain factor is each Bitcoin pockets on the market ought to incorporate the aptitude of making a Bitcoin primarily based digital identification. Many messaging platforms endure from the identical challenges that e mail does. While you get a textual content message, how have you learnt the one that despatched you the textual content message…We’d wish to embrace an orange test for these totally different messaging platforms.” 

“And the opposite alternative we see and we wish to pursue is integrating the digital identification primarily based on Bitcoin with this larger verifiable credential ecosystem which opens up one other giant variety of very attention-grabbing use instances,” Raczko concluded. “The place I can now credential my identification anchored to Bitcoin — with a college diploma, with a course certification issued by a hyperscaler, together with your medical file and current these and have these verified all in a decentralized means. However with the final word identification dwelling and being anchored to the Bitcoin blockchain.”

Earlier this yr in February, MicroStrategy introduced itself as “the world’s first Bitcoin growth firm” throughout a presentation. Since then, MicroStrategy Orange has been the primary technological innovation involving Bitcoin that the enterprise intelligence and software program firm has introduced.

The complete announcement of MicroStrategy Orange could be seen right here.