MicroStrategy Announces Bitcoin-based Decentralized Identities

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  • MicroStrategy has announced that it’s working on a decentralized identity project powered by the Bitcoin blockchain
  • Dubbed MicroStrategy Orange, it’ll enhance trust among entities transacting in both the centralized and decentralized space
  • The company’s head disclosed the project during this year’s MicroStrategy Bitcoin for Corporations conference

Four years after declaring its interest in BTC, business intelligence firm MicroStrategy is taking another step into the Bitcoin ecosystem through a decentralized identity project. Known as MicroStrategy Orange, and announced during the ongoing Bitcoin for Corporations conference in Las Vegas, the project aims to enhance trust and anonymity when dealing with entities in both the web2 and web3 spaces. MicroStrategy has unveiled different aspects of the project, an indication that the company intends to venture deeper into the Bitcoin world. 

Orange Service, Applications and SDK

According to a draft documentation of the project, decentralized identifiers will be inscribed on Bitcoin transactions, improving the anonymity of their holders since the identifiers aren’t linked to holders’ Bitcoin addresses.

The project consists of Orange Service, Orange Applications and a software development kit (SDK). The service aspect targets businesses that want to issue decentralized identifiers to its employees, while the SDK and application offering is for entities that want to bring the Orange experience to desktop and mobile users.

MicroStrategy is already showcasing Orange Applications by linking emails with digital signatures to help verify an email-sender’s identity. 

The business intelligence firm aims to have the same type of offering available to people using social media platforms and other online platforms, something that can help lower the chances of dealing with fake accounts on such networks.

Expanding Bitcoin

MicroStrategy’s move comes at a time when developers are seeking to open up the Bitcoin ecosystem through projects like Ordinals and Runes. Bitcoin layer twos are also receiving considerable attention due to their ability to bring DeFi to Bitcoin.

With MicroStrategy being a business intelligence firm, it’s to be seen whether the Orange project will gain traction in the corporate world.