MicroStrategy revealed its latest innovation, MicroStrategy Orange, a decentralized identity (ID) platform built on the Bitcoin network, at the MicroStrategy World: First: Bitcoin for Corporations Conference in 2024. Enterprises can enjoy power control over the Bitcoin blockchain that is solely used to ensure the strict security of decentralized identity apps.
Microstrategy Orange is an enterprise application aimed at creating decentralized identity applications on the public ledger hosted by Bitcoin. Cezary Raczko, the MicroStrategy Executive Vice President, pointed out that the platform includes a set of APIs for address generation, several orange apps, and a software development kit (SDK) for embedding tools into the user systems.
Furthermore, this latest innovation provides a simple fix for digital identity hurdles. To let organizations issue IDs to users and use ready-made blockchain apps to tackle identity issues. Raczko highlighted the unification factor with messaging environments that caused verification of text messages’ authenticity.
Moreover, MicroStrategy Orange will connect Bitcoin-based digital identities with a verifiable credential system. This means university degrees to medical records can be securely anchored to the Bitcoin blockchain. Microstrategy Orange created the first MicroStrategy product which is a technology innovation regarding Bitcoin.
Also Read: MicroStrategy’s Q1 2024: 214,400 BTC & Revenue Growth
