MicroStrategy will offer identity proofing on Bitcoin blockchain

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Identity data is typically stored in centralized databases, making it vulnerable to attack. In contrast, MicroStrategys Orange aims to store identity data in a decentralized manner in the Bitcoin ledger.

Orange can store up to 10,000 identity data in a single bitcoin transaction.

“Wouldn’t it be great if instead of a blue or green tick, there was an orange tick that was a global standard,” top executive Michael Saylorasked during the presentation.

Orange For Outlook already allows network users to add signatures to their emails. Recipients of the emails can then be sure that it is the real sender.

Microstrategy is not the first to explore Bitcoin for identity solutions. A project known as BitID was launched in 2016, although it is no longer operational. There is also ION (Identity Overlay Network), a sovereign identity system that also uses the Bitcoin blockchain.

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