MicroStrategy, a prominent corporate holder of Bitcoin, announced the launch of a new decentralized identity solution called ‘MicroStrategy Orange’. Michael Saylor, MicroStrategy’s executive chairman, introduced this solution during the company’s annual Bitcoin For Corporations conference. MicroStrategy Orange aims to utilize the public Bitcoin blockchain to store and manage digital identities securely and pseudonymously.

This innovative solution is structured around three core components: Orange Service, Orange SDK, and Orange Applications. These elements work together to issue decentralized identifiers (DIDs) and facilitate the deployment of various applications tailored to user needs. Orange Service helps in issuing DIDs to users’ personnel applications. On the other hand, Orange SDK and Orange Applications offer customization tools for integrating services into mobile/desktop devices. A notable application already developed under this initiative is ‘Orange For Outlook’; this application incorporates digital signatures into emails, allowing recipients to verify the authenticity of the sender. The onboarding process for users begins with receiving an invitation email signed by a MicroStrategy DID. This action triggers the creation of a unique DID and a corresponding public-private key pair for the user, which are then recorded on the Bitcoin network for security.

In addition to email verification, the company plans to extend the capabilities of its Orange applications across various digital platforms, like messaging services and social media. This plan covers some sectors, such as e-commerce, fintech, and enterprise. This strategic expansion aims to broaden the use of decentralized identities.

The launch of MicroStrategy Orange comes at a time when the company continues to significantly invest in Bitcoin. Despite reporting a net loss of $53.1 million in the first quarter, the value of their Bitcoin holdings has increased by 65% during the same period. The company’s initiative represents a pivotal move in leveraging blockchain technology for enhanced digital identity management. It will potentially set a new standard for security and privacy in the digital age.