As a seasoned crypto investor with a keen interest in blockchain technology and its real-world applications, I find MicroStrategy’s latest announcement of MicroStrategy Orange particularly intriguing. Michael Saylor, the company’s executive chairman, has always been a thought leader in the Bitcoin space, and this new decentralized identity solution is no exception.
As a crypto investor, I’m excited about MicroStrategy’s latest announcement. Being the world’s largest corporate Bitcoin holder, they’re taking their game a step further by developing a decentralized identity solution right on the Bitcoin blockchain. By using Ordinal-based inscriptions, they plan to securely store and access information, adding an extra layer of innovation to this already groundbreaking technology.
At the Bitcoin for Corporations conference on May 1, Michael Saylor, executive chairman of MicroStrategy, introduced a new solution called MicroStrategy Orange. This open-source tool is designed to handle up to 10,000 decentralized identifiers without relying on any sidechains.
According to an unpublished draft on GitHub, MicroStrategy Orange intends to create reliable, tamper-evident, and enduring decentralized identities utilizing solely the public Bitcoin blockchain as a database. Decentralized identifiers (DIDs) will provide a level of anonymity similar to how real-world identities are distinct from Bitcoin addresses and transactions. In reference to this project, MicroStrategy’s executive vice president of engineering, Cezary Raczko, expressed:
Michael effectively argued the significance of decentralized identity and decentralized identifiers. His persuasive points were further emphasized by suggesting that attaching digital identities to the robust and secure Bitcoin blockchain is a prudent approach.
MicroStrategy Orange and Its Key Services
The MicroStrategy Orange offers three essential components – Orange Service, Orange Software Development Kit (SDK), and Orange Applications.
As a researcher studying the Orange Service, I can explain that this platform enables users to issue Decentralized Identities (DIDs) to their personnel for application deployment. Simultaneously, Orange SDK and Applications provide customization tools, enabling users to integrate desired services on both mobile and desktop devices.
MicroStrategy offers an app called “Orange for Outlook” that integrates digital signatures into emails. With this tool, recipients can authenticate the sender’s identity. To get started, users need to accept an invitation email, which is digitally signed by MicroStrategy. This acceptance creates a unique Digital ID (DID) for the user, along with a matching public and private key pair.
As a researcher in this field, I’d like to add that the user’s Decentralized Identifier (DID) and public key are permanently recorded on the Bitcoin blockchain. This feature allows users to extend invitations to their team members, enabling them to create their own digital identities. The act of embedding data into the blockchain opens up the potential for various use cases such as digital signatures, registrations, or even hashing documents. According to Saylor, the security measures employed in Bitcoin surpass those currently used by enterprises.
The company expressed its intention to broaden the use of MicroStrategy Orange applications beyond messaging apps and social media platforms to include enterprise software, e-commerce systems, and fintech solutions.
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2024-05-02 10:21