MicroStrategy, one of the largest BTC holders in the world, is working to create a decentralized user identification solution that will run on the Bitcoin network.

MicroStrategy co-founder and chairman Michael Saylor spoke about this during the annual MicroStrategy World conference. The new open source protocol is called MicroStrategy Orange Decentralized Identity.

“Michael made a very compelling case for why we need decentralized identity. He spoke even more convincingly about why this protocol needs to be tied to the Bitcoin blockchain, because it is the strongest and most secure network,” said Cezary Raczko, vice president of development.

The identity protocol will use the functionality of Ordinals based on Bitcoin. With the help of Ordinals, it will be possible to record the public and private keys of users in the blockchain. Such a decentralized identifier can be used in any system, for example, for authentication on social networks. Of course, it can be used for more serious purposes, for example, to confirm the authenticity of diplomas and various certificates.

Let us recall that at the end of March this year, MicroStrategy’s capitalization exceeded $31 billion.