🚨✅MicroStrategy announces its new project on the Bitcoin network.
#MicroStrategy announced at the Bitcoin For Corporations Conference held yesterday that the solution will be an open source and decentralized identity protocol on the Bitcoin Blockchain network. In this project, the company will allow pseudonymous use of identity information through decentralized identifiers (DID), such as Bitcoin addresses not being linked to their transactions.
#MicroStrategy Orange; It will consist of 3 basic parts: Orange Service, Orange SDK and Orange Applications. With Orange Service, companies will be able to assign a decentralized identifier to their employees. Those who work with Orange SDK and Orange applications will be able to use these identities stored on the Bitcoin network on various devices.
MicroStrategy plans to expand Orange applications to messaging platforms, social media networks and the fintech sector in the coming periods.
MicroStrategy's project is seen as a new milestone
#MicroStrategy is currently running the most well-known digital identity and finance network project that can be used globally on the Blockchain network. We can see that MicroStrategy can compete with Worldcoin by establishing a similar system over the Bitcoin network. However, this move by the global software company is seen as an important turning point in using the Bitcoin network for corporate solutions.
In his statement on the subject, #MichaelSaylor said that institutions currently have weak security compared to the Bitcoin network, and claimed that a higher level of security can be created by using the Blockchain network.
Apart from this development, MicroStrategy announced its first quarter earnings report this week. The company, which announced a net loss of 53.1 million dollars in the report, also announced that it increased the amount of crypto assets to 214,400 BTC with its Bitcoin purchases in April.
