coinculture.com
At the MicroStrategy World conference in Las Vegas, MicroStrategy’s Executive Chairman Michael Saylor introduced the open-source MicroStrategy Orange Decentralised Identity protocol, emphasising the importance of decentralised identity anchored in the security of the Bitcoin blockchain.
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Cezary Raczko, MicroStrategy’s executive vice president of engineering, explained the significance of this development, highlighting the integration of digital identity into Bitcoin’s robust blockchain network. MicroStrategy also released an unofficial draft of the MicroStrategy Orange specification on Github alongside the announcement.
Saylor previously hinted at MicroStrategy’s focus on identity and authentication, particularly after the launch of the Ordinals protocol in January. He underscored the potential for blockchain to enhance enterprise security compared to traditional methods.
The MicroStrategy Orange platform consists of three core components: a hosted service cloud for issuing identifiers, prepackaged applications deployable on the Orange platform, and an Orange software development kit (SDK) to facilitate integration into custom applications.
Raczko used the example of email authentication, where public and private keys generated using MicroStrategy Orange would be inscribed using the Ordinals protocol on the Bitcoin blockchain. This decentralised identity protocol leverages a modified approach to inscriptions, storing data related to decentralised identity (DID) efficiently using Bitcoin’s Segregated Witness (SegWit) feature.
BREAKING: LASER-EYE MAXIS IN ABSOLUTE SHAMBLES AS THEIR LORD AND SAVIOR @SAYLOR ANNOUNCES NEW “PROTOCOL” TO INSCRIBE DIGITAL IDENTITY DOCUMENTS ON THE BITCOIN BLOCKCHAIN
INSTITUTIONAL-GRADE SPAM HAS ENTERED THE CHAT pic.twitter.com/EMGsZBcZvw
— Udi | BIP-420 🐱 (@udiWertheimer) May 1, 2024
Raczko outlined various use cases for MicroStrategy Orange, including verifying users on social media, authenticating text messages or credentials, and securely managing medical records. The ultimate goal is to anchor digital identity to the Bitcoin blockchain, enabling decentralised verification across platforms.
MicroStrategy’s venture into decentralised identity signifies a broader trend toward leveraging blockchain technology for enhanced security and trust in digital interactions. With MicroStrategy Orange, the company aims to pioneer innovative solutions at the intersection of decentralised identity and blockchain technology.