Saylor explained that the solution’s purpose is to provide trustless, tamper-proof, and durable decentralized identities by solely utilizing the public Bitcoin blockchain. Decentralized identifiers (DIDs) will enable pseudonymity in the same way that real-world identities are not linked with Bitcoin addresses and transactions. MicroStrategy Orange is comprised of several components: Orange Service, Orange SDK, and Orange Applications. Orange Service enables users to issue DIDs to their personnel and deploy applications.
Meanwhile, the Orange SDK and Orange Applications provide the necessary tools for customization and integration on various devices. The user’s DID and public key are stored on the Bitcoin network, and they can then begin inviting their personnel to create their own digital identities. Looking ahead, MicroStrategy aims to extend the capabilities of its Orange applications across other messaging platforms, social media networks, and various applications in the e-commerce, enterprise, and fintech sectors. In 2016, the BitID project was launched to simplify identity verification for online platforms, ensuring user privacy.
However, this project is no longer active. Ecuador’s Sistema de Dinero Electrónico is also notable. Ecuador’s initiative was finally phased out after facing criticism from state banks. MicroStrategy’s announcement comes shortly after the company reported a net loss of $53.1 million for the first quarter on April 30.