MicroStrategy decided to dive deeper into Bitcoin and caused excitement with its latest release: MicroStrategy Orange. According to the company, the new platform represents a significant leap forward in decentralized identity (ID) solutions, leveraging the power of the Bitcoin network.
The launch took place during the Bitcoin for Corporations 2024 event, organized by the company on Wednesday (1st). During the event, the company’s executive vice president Cezary Raczko took the stage to introduce MicroStrategy Orange to the world.
As Raczko explained, the platform aims to revolutionize the way organizations approach digital identity applications. The company intends to build these applications using the security and immutability of the Bitcoin blockchain.
The concept of digital identity with blockchain is not new, as companies such as the Brazilian OriginalMy have already carried out initiatives in this direction. But the difference between MicroStrategy Orange, in addition to the use of Bitcoin, is having a cloud service infrastructure, which speeds up the process of issuing identifiers to users and organizations.
MicroStrategy Orange and Bitcoin Identity
According to Raczko, MicroStrategy Orange represents more than just a new product launch. Above all, it signifies a strategic move towards integrating Bitcoin with enterprise-level solutions. This stance is part of the company’s change, which in addition to buying BTC, began offering technology-oriented services.
With this tool, MicroStrategy aims to enable organizations to implement pre-built applications tailored to address digital identity challenges. Blockchain identities promise to offer more security, protection against fraud and unauthorized copies, improving identity confirmation processes.
In his speech, Raczko emphasized the transformative impact of Bitcoin-based digital identities, showcasing the platform’s broader implications. “In addition to addressing immediate identity needs, MicroStrategy Orange has the potential to reshape entire ecosystems, including messaging platforms and the verifiable credentials landscape,” explained the executive.
The event was also attended by Michael Saylor, founder of MicroStrategy and current chairman of the company’s board. The executive stated that Orange will give people control over their data without depending on any government or centralized system.
From purchases to services
MicroStrategy Orange is the latest step in a strategic journey that began earlier this year. After more than three years purchasing BTC for its cash, the company announced that it would work on implementing “enterprise solutions” using blockchain. In its announcement, the company positioned itself as “the world’s first Bitcoin development company”.
With its financial gains associated with MicroStrategy’s Bitcoin strategy, the company has seen its shares appreciate more than five times since 2020. Saylor alone has profited 400 million from planned daily sales of company shares to acquire the cryptocurrency.
Confidence in this strategy was so great that MicroStrategy went so far as to take on debt and leverage itself to buy more BTC, a very risky strategy. However, by having access to credit with very low interest rates, the operation has proven profitable so far.
Source: https://www.criptofacil.com/microstrategy-lanca-plataforma-de-criacao-de-identidade-digital-com-bitcoin/
