- MicroStrategy co-founder and Executive Chairman Michael Saylor has unveiled the open-source MicroStrategy Orange Decentralized Identity protocol at the annual MicroStrategy World conference in Las Vegas.
- The protocol aims to anchor digital identity into the Bitcoin blockchain, offering a new level of security.
- An unofficial draft of the MicroStrategy Orange specification has been published to Github, hinting at the company’s move into the identity and authentication space.
MicroStrategy introduces a new decentralized identity protocol, MicroStrategy Orange, aiming to enhance digital security by anchoring digital identity into the Bitcoin blockchain.
MicroStrategy Unveils Decentralized Identity Protocol
During the annual MicroStrategy World conference, Michael Saylor, co-founder and Executive Chairman of MicroStrategy, presented the open-source MicroStrategy Orange Decentralized Identity protocol. The protocol aims to anchor digital identity into the Bitcoin blockchain, providing a higher level of security. The company also published an unofficial draft of the MicroStrategy Orange specification on Github, indicating its move into the identity and authentication space.
MicroStrategy Orange: A New Level of Security
According to Saylor, the new protocol could introduce an entirely new level of security. He explained that the concept of burning data on the blockchain could lead to the possibility of burning a digital signature, registration, or a hash of a document. This could significantly enhance the security of enterprises, which he believes is currently weaker compared to Bitcoin. The protocol consists of three fundamental pieces, including a service cloud that allows issuing identifiers to users and deploying prepackaged applications that run on the MicroStrategy Orange platform.
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Conclusion
The unveiling of the MicroStrategy Orange Decentralized Identity protocol marks a significant step towards enhancing digital security. By anchoring digital identity into the Bitcoin blockchain, the protocol offers a new level of security that could revolutionize the identity and authentication space. As the protocol continues to develop, it will be interesting to see how it is adopted and integrated into various applications and systems.
