Microstrategy Announces Decentralized Identity Platform Powered by Bitcoin

Microstrategy has announced the launch of its latest innovation, Microstrategy Orange, at the esteemed Microstrategy World 2024 event held in Las Vegas. This new enterprise decentralized identity platform is poised to revolutionize the landscape of digital identity management.

Microstrategy Orange harnesses the power of the Bitcoin Inscription DID method (did:btc), as outlined in an unofficial draft on Github. This method employs data inscriptions within Bitcoin’s witness sections to oversee decentralized identifiers (DIDs). By leveraging unspent transaction outputs (UTXOs) on the Bitcoin blockchain, Microstrategy Orange ensures secure and efficient management of digital identities, while simultaneously reducing transaction fees and block space.

A Vision for Global Standardization

During the Bitcoin for Corporations segment at the Microstrategy World 2024 event, Microstrategy Executive Chairman Michael Saylor articulated the vision behind Microstrategy Orange. He proposed the concept of an “orange check.” Here’s what he said, “Wouldn’t it be great if instead of a blue check, green check, etc., there was an orange check that was a global standard? With Microstrategy, maybe we could approach this idea of decentralized identity, with Bitcoin.” 

Microstrategy Orange sets itself apart by offering trustless, tamper-proof, and immutable decentralized identities, solely relying on the public Bitcoin blockchain. Unlike previous methods, which often depend on external sources, Microstrategy Orange embeds DID information directly on-chain, ensuring the permanence and integrity of data.

With Microstrategy Orange, Microstrategy continues to push the boundaries of innovation in the realm of decentralized technologies. By leveraging the inherent security and transparency of the Bitcoin blockchain, Microstrategy Orange paves the way for a future where digital identities are managed seamlessly and securely.